Hormel Foods, the maker of Spam tinned meat, has announced the acquisition of Mexican food maker Arriba Foods, for US$47m in cash from Chicago-based Arbor Private Investment Company.
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The operating units of Arriba Foods, Mexican Accent and Rio Real, manufacture and distribute a wide variety of premium Mexican flour tortillas, corn tortillas, salsas, seasonings and tortilla chips for retail markets and the foodservice industry. The products are marketed under the Manny’s, Gringo Pete’s and Mexican Accent brands.
Arriba Foods has manufacturing and administrative operations in New Berlin, Wisconsin. The company has around 150 employees.
“Arriba Foods offers an impressive array of high quality products that will be immediately accretive to our grocery products business segment,” said Joel Johnson, chairman of the board and chief executive officer of Hormel Foods. “These products will further strengthen our growing presence in the ethnic products category.”
Hormel Foods currently markets various Mexican salsas, sauces and other products under the Chi-Chi’s, Herdez, Dona Maria and Bufalo brands.
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