NEW YORK, September 20, 2011 – Palladium Equity Partners, LLC (together with its affiliates, “Palladium”), a private investment firm focused principally on investments in the U.S. Hispanic marketplace, announced today that it has acquired Teasdale Quality Foods (“Teasdale”), the largest producer and marketer of canned hominy and beans in the Western United States. Terms were not disclosed.
Thomas Bauer, Vice President of Sales & Marketing at Teasdale, said, “From our earliest roots in the rich agricultural heritage of California’s Central Valley, Teasdale has always prided itself on products that are ‘Simply the Best.’ Our new partnership with Palladium will both continue that tradition and better position us to keep pace with consumer trends, even as we redouble our commitment to provide unparalleled service, quality and value for our customers.”
Joining Teasdale’s management team are several experienced operating executives from Palladium, including Allen Rodriguez, as Chief Executive Officer and member of the board, and Cor Karaffa, as Chief Operating Officer. Jack Kelly, former President and Chief Executive Officer of San Antonio Farms and American Italian Pasta Company, will join Teasdale’s board as Chairman.
Luis Zaldivar, a Managing Director at Palladium, said “Teasdale is recognized as an industry leader and innovator serving a broad base of retail, food service and industrial customers in the Western U.S. The company’s visibility and success in the Hispanic market – given the strength of Teasdale and other branded products such as Aunt Penny’s and Emilio’s – make it a natural fit with Palladium’s investment strategy. We look forward to partnering with management and I certainly share in their excitement about the market opportunities that lie ahead for Teasdale.”
OneWest Bank, FSB provided additional financing in the form of a credit facility.
About Teasdale Quality Foods ( www.teasdale.net )
Headquartered in Atwater, California, Teasdale Quality Foods’ roots can be traced back to the 1930’s. Inspired by the rich agricultural Central Valley of California, the company is the largest producer and marketer of canned hominy and beans in the Western United States, primarily serving the Hispanic market under its Teasdale brand and other branded products such as Aunt Penny’s and Emilio’s.
About Palladium Equity Partners ( www.palladiumequity.com )
Palladium targets investments in business services companies as well as in financial services, consumer/retail, food/restaurants, healthcare, industrial and media businesses. Palladium has a focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. The principals of Palladium have directed investments of over $1.5 billion of equity in 50 portfolio companies over the last two decades.
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For Palladium Equity Partners
Media Relations Contacts: Jeff Taufield and Lyndsey Estin
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