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.

"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.

Show the press release

Palladium Equity Partners Completes Sale of Teasdale Foods, Inc.
NEW YORK, October 29, 2014 -- Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), a private investment firm with over $2.5 billion in assets under management, today announced that it has completed the sale of Teasdale Foods, Inc. ("Teasdale"), a leading producer and marketer of bean and hominy products in the United States, to affiliates of Snow Phipps Group, LLC, a New York-based private-equity firm.  
 
Teasdale represents the third sale of a portfolio company by Palladium this year.  Earlier this year, Palladium sold its portfolio companies ABRA Auto Body & Glass ("ABRA"), a national provider of vehicle damage repair services, to affiliates of Hellman & Friedman, LLC and ABRA's senior management team, and Sahale Snacks, Inc., a manufacturer and marketer of premium, branded nut and fruit snacks, to The J. M. Smucker Company (NYSE: SJM).
 
Following Palladium's investment in Teasdale in September 2011, the company completed two add-on acquisitions, deepened relationships with existing customers, and began to service new customers in a variety of channels, including retail, foodservice, government, and industrial.
 
"We are very pleased with the outcome we have achieved for Teasdale," said Luis Zaldivar, a Managing Director of Palladium. "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."

Original source: Palladium Equity Partners