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.
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