HP Hood, one of the largest branded dairy companies in the US, has purchased dip and quiche producer La Terra Fina USA as it looks to widen its distribution and brand portfolio across the country.
La Terra Fina hopes the HP Hood deal will allow it to expand its existing and new organic product range and grow distribution both in the US and internationally.
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Its San Francisco Bay manufacturing facility will take HP Hood's network of production sites up to 14 across the US.
La Terra Fina has spent the last ten years under the control of Claridge, the Canadian private-equity business.
Pierre Boivin, president and chief executive of Claridge, said: "We are extremely proud of the level of success that the management team at La Terra Fina USA has accomplished since the acquisition in 2005. Claridge is excited about the future growth prospects of the company in the hands of an outstanding organisation with similar values to us and that have the resources and successful track record to allow La Terra Fina USA to reach its full potential."
HP Hood’s brand portfolio includes a range of national and regional brands and franchise products including Hood and Heluva Good. It makes products under licence for companies including Diageo, Hershey and Blue Diamond Growers.
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By GlobalData
