Insignia Capital Group Acquires Truco Enterprises
WALNUT CREEK, Calif., July 7, 2014-- Insignia Capital Group today announced the acquisition of Truco Enterprises from Arbor Investments and Truco's co-founders. Terms of the transaction were not disclosed.
Founded in 1991 and based in Dallas, TX, Truco is a leading developer and marketer of 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.
"We are extremely pleased to partner with Truco's outstanding management team, led by President and CEO Jeff Partridge. The team has driven tremendous and consistent growth over the past decade and has done a terrific job of expanding the Company's distribution footprint and introducing new products," said David Lowe, CEO of Insignia. "The acquisition fits squarely within our investment focus, and we look forward to supporting management to generate a successful outcome for all stakeholders."
"In Insignia we found a partner who shares our values and vision, and who brings unique strategic and operational expertise," said Jeff Partridge. "We are thrilled to partner with Insignia as we build upon our current momentum."
Houlihan Lokey served as exclusive advisor and DLA Piper served as legal counsel to Arbor. Kirkland & Ellis LLP provided legal counsel to Insignia.
About Insignia Capital Group
Insignia Capital Group is a private equity firm based in the San Francisco Bay Area focused on investing in lower middle-market businesses where it can partner with leading management teams to achieve their true business potential. The firm's principals have significant experience building businesses across a range of industries including consumer, business services and healthcare. For more information please visit www.insigniacap.com.
About Truco Enterprises
Founded in Dallas, TX in 1991, Truco is a leading developer and marketer of 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. For more information please visit www.trucoenterprises.com.
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