US: Tortilla chip firm Truco gets new PE owner
Truco grew four-fold under Arbor control, PE firm said
Private-equity firm Insignia Capital has acquired Truco Enterprises from Arbor Investments and the US-based tortilla chip-to-salsa manufacturer's co-founders.
Insignia said the owner of the On The Border brand had seen "tremendous and consistent growth" under Arbor.
Arbor took a controlling stake in Truco in 2004. It said it had worked with Truco co-founder David Silver to "accelerate" the brand's expansion across the US, leading to the company "quadrupling" in size.
"Our partnership with Truco has been rewarding and extraordinarily successful," Joseph Campolo, Arbor's president and co-founder, said. "With this sale, we will realise a 6.7x return on our investment."
Financial details on the deal were not disclosed.
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Soda draws fire from food in Mexico obesity battle
- Why Flowers Foods organic bread deal is a killer
- Why investors are concerned about water risk
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- Ajinomoto "eyes acquisitions in Europe"
- Hearthside to buy nutrition bar maker VSI
- FrieslandCampina H1 earnings up despite flat sales
- Management briefing: just-food’s industry outlook for 2015
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- Chocolate and Chocolate Candy Manufacturing Industry (U.S.): Analytics, Extensive Financial Benchmarks, Metrics and Revenue Forecasts to 2022
- Food Flavourings & Colourings (UK) - Industry Report