La Costeña Acquires Faribault Foods

Faribault Foods to combine with La Costeña’s U.S. affiliate Arizona Canning;

Arizona Canning and Faribault Foods to operate as Faribault Foods and be headquartered in Minneapolis

TUCSON, Ariz. & MINNEAPOLIS--()--La Costeña group, a privately held global leader in a wide range of packaged foods categories, announced today that it completed the acquisition of Faribault Foods, a privately held manufacturer of canned beans and vegetables based in Minneapolis. Faribault Foods will be combined with La Costeña’s U.S. affiliate, Arizona Canning, based in Tucson, Arizona. The combined companies will operate as Faribault Foods and be headquartered in Minneapolis. Financial terms of the deal were not disclosed.

“This is an exciting day for Arizona Canning and Faribault Foods, as we merge our strong brand portfolios, enhance our leading market positions and broaden our geographic reach,” said Albert Hoflack, president and chief executive officer of Arizona Canning. “We welcome the addition of Faribault Foods’ talented team to our own. Together, our goal is to provide customers with superior branded products, private label and contract manufacturing capabilities, and grow our U.S. business.”

The new organization offers complementary leading regional brands. Faribault Foods’ products include S&W canned beans, Butter Kernel, Kuner’s and Kuner’s Southwestern, Chilliman, Mrs. Grimes, Pride and KC Masterpiece baked beans. Faribault Foods also has strong private label and contract manufacturing business with top branded companies. Arizona Canning’s products include Sun Vista, Luck’s, Kerns and Totis.

“We look forward to the growth opportunities that this combination will bring,” said Reid MacDonald, president and chief executive officer of Faribault Foods. “Faribault Foods and La Costeña’s Arizona Canning are an excellent match. Both companies are family owned and financially strong. We believe that this partnership represents a significant opportunity for our companies, employees, customers and the communities where we do business. We are excited to accelerate the new organization’s growth.”

As a result of the acquisition, Albert Hoflack becomes president and CEO of Faribault Foods, and Reid MacDonald will move into an advisory role. The current Faribault Foods’ management team, employees and facilities will be retained as part of the combined company’s operations. Faribault Foods now will have approximately 700 total employees, with about 550 employees at three plants in Faribault, Cokato and Elk River, Minnesota; and about 150 employees at a Tucson, Arizona, facility.

About Faribault Foods
Faribault Foods is a privately held Minnesota food manufacturer, established in 1895. The company operates manufacturing plants in Faribault, Cokato and Elk River, Minnesota. Its products are sold under the brand names: Butter Kernel, Chilliman, Kuner’s, Kuner’s Southwestern, Mrs. Grimes, Pasta Select, Pride, S & W Beans, KC Masterpiece Baked Beans. Faribault Foods also has a strong private label business in canned beans, meals and beverages, in addition to a long-standing contract manufacturing business with top branded companies. More information about Faribault Foods and its products is available at www.faribaultfoods.com.

About La Costeña/Arizona Canning
Arizona Canning is a U.S. affiliate of privately held La Costeña group, which is Mexico's leading producer and marketer of canned peppers, beans and vegetables. Arizona Canning’s operations are based in Tucson, Arizona. The company’s products are sold under the brand names: Sun Vista, Luck’s, Kerns and Totis. More information about Arizona Canning and its products may be found at www.arizonacanning.com.

Contacts

MEDIA CONTACT:
PadillaCRT
Shawn Brumbaugh, 612-455-1754
shawn.brumbaugh@padillacrt.com

Sharing

Contacts

MEDIA CONTACT:
PadillaCRT
Shawn Brumbaugh, 612-455-1754
shawn.brumbaugh@padillacrt.com