Private equity firm acquires tortilla chip, salsa maker
July 8, 2014
by Eric Schroeder
WALNUT CREEK, CALIF. — Insignia Capital Group has acquired Truco Enterprises from Arbor Investments and Truco’s co-founders. Financial terms of the transaction were not disclosed.
Founded in 1991 and based in Dallas, Truco develops and markets tortilla chips, salsa and queso under the On The Border brand. The company’s products are sold nationally through grocery retailers, club stores and mass merchandisers.
“The acquisition fits squarely within our investment focus, and we look forward to supporting management to generate a successful outcome for all stakeholders,” said David Lowe, chief executive officer of Insignia. Insignia Capital Group is a private equity firm based in the San Francisco Bay Area and focused on investing in lower middle-market businesses.
Jeff Partridge, president and c.e.o. of Truco, added, “In Insignia we found a partner who shares our values and vision, and who brings unique strategic and operational expertise. We are thrilled to partner with Insignia as we build upon our current momentum.”