Teasdale Latin Foods continues to expand in the Hispanic food industry with the acquisition of Rudy’s Tortillas, an independent provider of high quality tortillas and chips into the foodservice channel. This is the fourth Hispanic food company purchased over the past two years by Snow Phipps in partnership with the Teasdale management team since it was acquired in October 2014.
With the acquisition of Rudy’s, Teasdale Latin Foods is able to provide an entire suite of private label and branded Hispanic food products to a diverse customer base across a variety of channels including retail, foodservice, wholesale, industrial and international.
“Consumers love Mexican foods and the tortilla is often at the center of the meals they enjoy,” said in a press release Chris Kiser, CEO of Teasdale. “Since 1945, Rudy’s has built its reputation on authenticity, and we are thrilled to welcome Rudy’s and its employees to our growing family of fine Mexican and Latino inspired foods.”
Rudy’s will continue to operate as a division of Teasdale Latin Foods with the existing management team continuing on with the business.
Teasdale enhances its footprint in the Hispanic foods category
The transaction advances Snow Phipps’ strategy of building a comprehensive Hispanic foods platform diversified across product, customer, channel and geographic exposure, and further enhances Teasdale’s national footprint in the Hispanic foods category, specifically within the attractive bakery and food service channel.
“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,” said Peter Shea, Chairman of Teasdale and Operating Partner at Snow Phipps.
“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,” explained Shea.
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Added Sundip Murthy, Partner and head of consumer investing at Snow Phipps, ” The Rudy’s acquisition provides additional scale and stability to our growing Hispanic food business while simultaneously balancing our product offering and diversifying our customer and channel base by adding an exciting new foodservice component to our tortilla business.”
Founded in 1945 and based in Carrollton, Texas, Rudy’s Tortillas is the fourth follow-on acquisition completed by Snow Phipps with Teasdale. In October 2015, they acquired Jardine’s Foods, a producer of natural and organic sauces including salsas, dips, quesos, BBQ and hot sauces. In December 2015, Casa Fiesta, a provider of authentic Mexican foods in the beans, peppers, sauces, taco shells, dinner kits and seasonings categories. In June 2016, Mesa Foods, a producer of tortillas, taco shells, flatbreads and chips into the retail channel.