Teasdale Foods, a portfolio company of Snow Phipps, has acquired Mesa Foods. Snow Phipps acquired Teasdale Foods in October 2014 from Palladium Equity Partners.
Mesa Foods is a manufacturer of private label flour and corn tortillas, flatbreads, tacos shells, taco kits and pre-cut uncooked tortilla chips. Customers include restaurants, grocery stores, and foodservice distributors. The company was founded in 1984 and is headquartered in Louisville (www.mesafds.com).
Mesa is the third follow-on acquisition that Teasdale has completed under Snow Phipps ownership. In October 2015, Teasdale acquired Jardine’s Foods, a producer of natural and organic sauces including salsas, dips, quesos, BBQ and hot sauces. In December 2015, Teasdale acquired Casa Fiesta, a provider of Mexican foods in the beans, peppers, sauces, corn products and seasonings categories.
Today, Teasdale Foods is a provider of private label and branded beans, hominy, peppers, sauces, corn products and seasoning products to the retail, foodservice, wholesale, industrial and international channels. Brands include Teasdale, Casa Fiesta, Viva Mexico, Mexene, D.L. Jardine’s, 7J and Sontava!. Teasdale operates facilities in Atwater, CA; Hoopeston, IL; Greeley, CO; and Buda, TX. The company was founded in 1930 and is headquartered in Dallas (www.teasdalefoods.com).
The acquisition of Mesa builds Teasdale’s national footprint and creates a one-stop shop of Hispanic inspired food products. Mesa Foods will operate as a division of Teasdale with the existing management team continuing on with the business. “Mesa adds tortillas to our portfolio, which are a core part of Hispanic snacking favorites such as quesadillas, wraps, fajitas, burritos and enchiladas,” said Chris Kiser, Teasdale’s CEO. “Teasdale now offers all the product categories necessary to help bring the best of Hispanic food to consumers.”
“We are pleased to have executed on a number of Teasdale’s unique growth opportunities and look forward to our continued expansion,” said Peter Shea, Teasdale’s Chairman and Snow Phipps’ Operating Partner. “Mesa rounds out Teasdale’s product offering and will allow us to drive further growth by providing customers with best in class products, service, innovation and market insights.”
Snow Phipps makes control investments in companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging from $40 million to $100 million. The firm has $1.5 billion of assets under management and was co-founded by Ian Snow and Ogden Phipps in April 2005. Snow Phipps is headquartered in New York (www.snowphipps.com).
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