MERGERS & ACQUISITIONS
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House Foods America completes acquisition of Mexican brand
El Burrito Mexican Food Products adds to House's line of Asian foods
by Caitlin AdamsPublished: November 14, 2012 01:45 PM
House Foods America Corp., based in Garden Grove, has completed its acquisition of healthy Mexican brand El Burrito Mexican Food Products Inc., headquartered in City of Industry, Calif. The deal makes El Burrito an operating subsidiary of House Foods Holding USA Inc.
The terms of the agreement also rename the Mexican food brand as El Burrito Mexican Food Products Corp. The financial conditions of the agreement have not been made public.
Founded in 1980, El Burrito is a privately held corporation known for being the first to produce fresh salsas for markets’ deli departments, and as the manufacturer of Soyrizo, the Mexican soy meat substitute. Other products include masa, guacamole, nixtamal (dried corn cooked in lime) and escabeche (sliced carrots and jalapenos packed in brine).
Shigeru Natake, president of House Foods America, praised El Burrito as an established and successful company that has grown and prospered at the hands of its founders.
"El Burrito's corporate philosophy is very similar to that of House Foods America so we believe we will enjoy great synergy as we work together in the future,” Natake said. “Adding healthy Mexican food products to our existing Asian line will allow us to offer consumers a wider variety of healthy lifestyle choices. In the US market, where many different cultures coexist, we anticipate accelerated growth and expanded profits as a result."
A manufacturer of a broad range of tofu products, House Foods America Corp., the U.S. subsidiary of House Foods Corporation Japan, creates and markets a variety of tofu and Japanese food products, including shirataki (yam noodles with tofu), konnyaku (yam cake), ganmodoki (tofu fritters) and wonton wraps.
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The terms of the agreement also rename the Mexican food brand as El Burrito Mexican Food Products Corp. The financial conditions of the agreement have not been made public. Founded in 1980, El Burrito is a privately held corporation known for being the first to produce fresh salsas for markets’ deli departments, and as the manufacturer of Soyrizo, the Mexican soy meat substitute. Other products include masa, guacamole, nixtamal (dried corn cooked in lime) and escabeche (sliced carrots and jalapenos packed in brine). Shigeru Natake, president of House Foods America, praised El Burrito as an established and successful company that has grown and prospered at the hands of its founders. "El Burrito's corporate philosophy is very similar to that of House Foods America so we believe we will enjoy great synergy as we work together in the future,” Natake said. “Adding healthy Mexican food products to our existing Asian line will allow us to offer consumers a wider variety of healthy lifestyle choices. In the US market, where many different cultures coexist, we anticipate accelerated growth and expanded profits as a result." A manufacturer of a broad range of tofu products, House Foods America Corp., the U.S. subsidiary of House Foods Corporation Japan, creates and markets a variety of tofu and Japanese food products, including shirataki (yam noodles with tofu), konnyaku (yam cake), ganmodoki (tofu fritters) and wonton wraps. Related headlines Chapman to host Cross-Border Entrepreneurship Conference PocketFinder GPS Locators now available in Mexico Cal State Fullerton president receives inaugural award |
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