TSG to sell Don Miguel Mexican Foods to MegaMex
TSG Consumer Partners (TSG), a private equity firm and investor in branded consumer companies, has signed a definitive agreement to sell its Don Miguel Mexican Foods Corp to MegaMex Foods, a Hormel Foods and Herdez Del Fuerte JV.
The acquisition is subject to customary closing conditions, and is anticipated to close in October 2010. The companies did not reveal the purchase price.
Don Miguel is a provider of branded, frozen and fresh Mexican flavored appetizers, snacks and handheld items.
TSG focuses on investing in natural and organic foods companies, and also companies operating in ethnic foods, functional food and beverage domains.
TSG managing director and partner James O’Hara said that the company has built a differentiated brand based on a portfolio of great tasting, authentically spiced, premium products, and view MegaMex as the ideal steward for continuing to grow the business going forward.
“Don Miguel represents another significant success for TSG following a series of exceptional realized investments that more recently included Smashbox Cosmetics, PureOlogy, Smart Balance and VitaminWater,” O'Hara said.
Don Miguel chairman Steve Charton said that TSG Consumer has been a tremendous partner over the past 7 or more years.
“Besides providing substantial consumer sector expertise, TSG was enthusiastic about continuing to make the substantial investments in operations, new product development and sales and marketing activities that were critical to our accelerated growth,” Charton said.
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