Snow Phipps Group, a New York-based private equity firm, has acquired Hispanic foods firm Teasdale Foods from Palladium Equity Partners.
Teasdale manufactures Hispanic canned bean and hominy products. Palladium has held Teasdale since September 2011. According to Palladium, during this time Teasdale has expanded its customer base and grown into a national Hispanic food supplier.
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“We are very pleased with the outcome we have achieved for Teasdale,” said Palladium MD Luis Zaldivar. “Backed by an excellent management team, Teasdale over the course of our investment integrated three regional businesses, focused on the attractive store brand and organic categories, and became a national Hispanic food platform with significant growth momentum.”
Alberto Bandera, CEO of Teasdale, added: “We are extremely thankful for the support we received from our partners at Palladium over the last three years. They helped us execute on an ambitious growth plan by providing sound advice and access to the human and capital resources we needed.”
Details of the transaction were not disclosed. Snow Phipps was unavailable for comment on the move at time of press.
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