Hormel Foods’ Mexican foods joint venture, MegaMex, has struck a deal to buy guacamole manufacturer Fresherized Foods.
Megamex, which is co-owned by Mexican food group Herdez Del Fuerte, said yesterday (21 July) that the acquisition of Fresherized Foods, will “enhance the position of MegaMex Foods as a one-stop-shop for Mexican foods”.
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Fresherized Foods, which owns the Wholly Guacamole, Wholly Salsa and Wholly Queso brands, is expected to generate annual sales of around US$140m. Terms of the deal were not disclosed.
MegaMex said that Fresherized Foods uses high water pressure technology to protect the avocado product without having to use preservatives.
“This transaction further demonstrates the clear commitment of the MegaMex Foods partners to become the US leader in Mexican food,” said Hormel Foods chairman, president and CEO Jeffrey Ettinger. “The addition of the exciting, on-trend Wholly Guacamole, Salsa and Queso products will bring excellent new flavours and varieties to our growing roster of Mexican-inspired brands and products.”
