MegaMex Foods LLC, a joint venture between Hormel Foods Corporation (NYSE: HRL) and Herdez Del Fuerte SA de CV, has entered into a definitive agreement to acquire 100% of the stock of Don Miguel Foods Corp from TSG4 LP, a private equity fund sponsored by TSG Consumer Partners LLC, and private investors. The transaction is expected to close in October 2010; terms were not disclosed.
Don Miguel Foods is a provider of branded frozen and fresh authentic Mexican flavored appetizers, snacks, and handheld items. The portfolio includes mini tacos, flautas, taquitos, empanadas, burritos, and roller grill items.
“Growth through the strategic acquisition of Don Miguel Foods is an important step toward making us stronger for the future,” said Enrique Hernández-Pons Torres, chairman of the board of MegaMex Foods.
“Don Miguel Foods will add new competencies that will allow us to continue expanding our presence in the nation’s leading convenience stores, club stores, and supermarkets,” said Luis G Marconi, managing director at MegaMex Foods.
Don Miguel Foods has a manufacturing and distribution center in the Dallas TX area.
MegaMex Foods was advised in this transaction by J H Chapman Group LLC.
Hormel Foods, based in Austin MN, is a multinational manufacturer and marketer of consumer-branded food and meat products. Visit www.hormelfoods.com for more information.
Herdez Del Fuerte, based in Mexico City, is a manufacturer and marketer of consumer-branded food and beverages in Mexico and the United States. It also markets and distributes products from affiliated companies such as Hormel Alimentos, McCormick de México, and Barilla México. Herdez Del Fuerte operates seven manufacturing facilities and seven distribution centers across Mexico with more than 6,000 employees. Visit www.grupoherdez.com.mx and www.kuo.com.mx for more information.
