Flagship Food Group to acquire majority stake in La Tortilla Factory
La Tortilla Factory (LTF), a California-based tortillas and Mexican foods maker, has signed a deal with Colorado-based food company Flagship Food Group to enable the latter to acquire a majority stake in the company.
The financial terms of the deal were not disclosed.
According to La Tortilla Factory, the third generation Tamayo family members will continue to stay as valued partners.
La Tortilla Factory was founded in 1977 to cater to local restaurants and retailers across Northern California. Currently, the company is claimed to be among the largest nationally-distributed tortilla brand.
The 300 employees of La Tortilla Factory will be retained by Flagship Food Group post-transaction.
Flagship Food Group to acquire majority stake in La Tortilla Factory. Photo courtesy of laurent guyard from Pixabay.
Jeff Ahlers – CEO of La Tortilla Factory said: “We are excited and eager to embrace Flagship Food Group and its entire family of companies and brands as supporters of La Tortilla Factory’s strategic growth plan.
“Their investment acumen and broader experience in the food industry will support and accelerate our strategy, especially given their success and enthusiasm within the Mexican food category.”
Flagship Food Group, which is majority owned by CREO Capital Partners, sells a range of food products and services under the 505 Southwestern, TJ Farm’s, Lilly B’s, and other brands.
Sam Tamayo – La Tortilla Factory Chairman of the Board said: “As we embark on our 43rd year in business, we are excited to have Flagship Food Group as partners. It was very important to our family that a new partner shared our core values and were genuinely interested in our people, our brand, and our culture.
“We feel fortunate to have found a match with Flagship and CREO.”