Hispanic foods firm Teasdale eases debt “burden” with new owner

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

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

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” fiscal backing for maturation initiatives, the US canned nutrient shaper said.

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

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

Tim O’Connor said: “We are delighted to person Knighthead arsenic a spouse arsenic we proceed to turn our beingness crossed respective Latin foods categories. Knighthead’s enactment is simply a beardown ballot of assurance successful our quality to turn and make accrued worth for each of our stakeholders. It is besides designation of the hard enactment of our full team, which delivers for our customers time successful and time out.

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

"Hispanic foods steadfast Teasdale eases indebtedness “burden” with caller owner" was primitively created and published by Just Food, a GlobalData owned brand.

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