Hispanic Foods Firm Teasdale Eases Debt “burden” With New Owner

2 hours ago

The Hispanic nutrient supplier said nan modulation eliminated astir $300m of debt.

Teasdale Latin Foods has changed hands, pinch ownership moving to a group led by Knighthead Capital Management.

In a connection yesterday (7 April), nan Hispanic nutrient supplier said nan modulation eliminated astir $300m of indebtedness and “substantially” improved its early operating liquidity.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to scope engaged professionals crossed 36 starring media platforms.

Find retired much

Teasdale manufactures a scope of beans, hominy, tortillas, snacks, and salsas for backstage label, nutrient service, and co-manufacturing.

Snow Phipps Group, a New York-based backstage equity firm, acquired Teasdale successful October 2014 from Palladium Equity Partners earlier rebranding arsenic TruArc Partners successful 2021.

The ownership modulation offers “strong” financial backing for maturation initiatives, nan US canned nutrient shaper said.

The institution will proceed to beryllium led by CEO Tim O’Connor and its existing guidance team.

They will beryllium supported by a recently committee of directors, including Knighthead co-founder and managing personnel Ara Cohen, Knighthead partner Kyle Kneisly, and TruArc operating partner Tom O’Boyle.

Tim O’Connor said: “We are delighted to person Knighthead arsenic a partner arsenic we proceed to turn our beingness crossed respective Latin foods categories. Knighthead’s support is simply a beardown ballot of assurance successful our expertise to turn and create accrued worth for each of our stakeholders. It is besides nickname of nan difficult activity of our full team, which delivers for our customers time successful and time out.

“With an improved financial foundation, nan expertise to put successful maturation initiatives going forward, and a highly qualified caller Board, I americium assured that we will beryllium capable to capitalise connected our opportunities and realise our afloat potential.”