Hormel’s Mexican Food Venture Buys Food Co.
MegaMex Foods, LLC-a joint venture between Austin-based Hormel Foods Corporation and Mexico City-based Herdez Del Fuerte-announced Monday that it has agreed to acquire Don Miguel Foods Corporation.
Anaheim, California-based Don Miguel Foods, which has a manufacturing and distribution center near Dallas, provides branded frozen and fresh authentic Mexican-flavored appetizers, snacks, and other food items-including mini tacos, flautas, taquitos, empanadas, and burritos.
It is owned by TSG4, LP, a private-equity fund sponsored by San Francisco-based TSG Consumer Partners, LLC, and private investors.
Terms of the acquisition were not disclosed, but the deal is expected to close in October.
Luis G. Marconi, MegaMex's managing director, said in a statement that the acquisition will “add new competencies that will allow us to continue expanding our presence in the nation's leading convenience stores, club stores, and supermarkets.”
Hormel manufactures and markets brand-name food and meat products. It is among Minnesota's 15-largest public companies based on revenue, which totaled $6.5 billion in fiscal 2009.