Teasdale Latin Foods, backed by middle-market private equity firm Snow Phipps Group LLC, has purchased Rudy’s Tortillas for an undisclosed amount. The target will operate as a division of Teasdale as a part of the deal.
Family owned and operated since 1945, Rudy’s is an independent provider of tortillas and chips for the foodservice channel, an industry involving businesses responsible for the preparation of meals outside the home. The Carrollton, Texas-based target used corn and flour to produce a variety of tortilla products including: burritos, wraps, pre-cut corn chips and pre-fried chips and shells. The company was founded as Texas Tortilla Factor by Joes R. Guerra.
“We are pleased to have executed on a number of Teasdale’s unique growth opportunities and are excited by our future growth prospects across an array of attractive food categories,” states Snow Phipps operating partner Peter Shea. “Rudy’s deepens our Hispanic bakery product offering and allows us to drive further growth across the foodservice channel, providing the company access to larger adjacent markets across an even broader consumer base. Teasdale is primed for continued growth as consumers increasingly focus on convenience, Hispanic meals and natural and organic products, both in and out of the home, and retailers focus on increasing the presence of their private label product offerings.”
Teasdale, based in Atwater, California, produces private label and branded Hispanic foods. The buyer sells beans, tortillas, taco shells, taco dinner kits, flat breads, salsas, hot sauces, BBQ sauces, seasonings and peppers. Private equity firm Snow Phipps Group LLC acquired the company from Palladium Equity Partners LLC in October 2014.The buyer operates multiple production facilities in California, Colorado, Illinois, Kentucky and Texas with a Corporate Office in Dallas.
Teasdale is no stranger to the foodservice industry. The maker of Latin and Mexican-inspired foods has made multiple acquisitions, including: the purchase of Bruce Foods Corp.’s Hispanic brands, which produces beans, peppers and salsas; the acquisition of organic sauce maker Jardine’s Foods, and the buying of tortilla maker Mesa Foods.