Acquisition of Mexican Accent, Inc.
For Immediate Release
Chicago, Illinois-based Arbor Private Investment Company announced today that it has completed its acquisition of New Berlin, Wisconsin-based Mexican Accent, Inc. Mexican Accent is one of the largest manufacturers and distributors of high quality tortillas, tortilla chips, salsa and other Mexican food products. Terms of the sale were withheld.
Sold under the “Manny’s”® brand name as well as private label, the Company’s tortillas are the #1 branded flat-packaged tortilla in the eastern U.S. The Manny’s®s brand is also the second most widely distributed shelf stable tortilla in the United States. Mexican Accent’s products are sold in 90% of all retail supermarket chains and mass merchandisers in the eastern U.S.
The tortilla industry has grown over 50% annually over the past four years, and is expected to reach almost $6 billion in 2002. Tortillas are now the second highest selling product in the retail packaged bread category, outselling products such as white bread, bagels, pitas and English muffins.
“Mexican Accent owns one of the premier brands in the Mexican foods category, which continues to experience impressive growth,” said Gregory Purcell, Arbor Managing Partner. “Under the leadership of co-founder and President Ken Levitt, Arbor expects to substantially grow the Manny’s® brand as well as aggressively pursue private label business.”
The Mexican Accent transaction represents the first acquisition by Arriba Foods, Inc., Arbor’s platform for building a family of well-known brands in the Mexican foods industry. “Mexican Accent provides Arriba with a significant retail presence in the eastern United States as well as considerable foodservice and private label manufacturing capabilities,” said Joseph Campolo, Arbor Partner.
Chicago, Illinois-based Arbor Private Investment Company is one of the only private equity firms in North America that concentrates exclusively on the food, beverage and related industries.
For more information, please contact Gregory Purcell (312-981-3780) or Joseph Campolo (312-981-3781).