Sargento Foods signed a definitive agreement to acquire California-based La Terra Fina, a producer of dairy-based dips, spreads, quiches, and refrigerated salads.
The acquisition expands Sargento beyond its core natural cheese business and gives the company an entry into the deli department of grocery retailers nationwide. La Terra Fina’s products include Spinach Artichoke & Parmesan Dip, Classic Lorraine Quiche, Cheddar & Broccoli Quiche, Pineapple Habanero Dip, and Orzo Mozzarella & Balsamic Salad.
La Terra Fina, founded in 1983, is based in Union City, Calif., and has approximately 250 employees. The company operates a 100,000-sq-ft facility near San Francisco and produces ready-to-eat refrigerated quiches, dips, and spreads sold in club stores, supermarkets, and specialty grocery retailers in the U.S., Canada, and Mexico.
“Our purpose at Sargento is to find new ways to add value to people’s lives. Every day we do our best to make their lives better with food that brings them together,” says Louie Gentine, Chairman and CEO, Sargento. “For more than 70 years, our commitment to innovation has driven our success that we share with our employees, customers, suppliers and community. We will continue this legacy, by growing the La Terra Fina brand and welcoming new members of the Sargento Family.”
La Terra Fina has been a private affiliate of Catamount Management Corporation since 2015. The sale is targeted to close in late September. Financial terms have not been disclosed.
“This venture reflects the strength of what we’ve built and puts La Terra Fina in a great position for accelerated growth. And what’s even better is that our cultures are genuinely aligned. Sargento puts people first, just as we do,” says Stephen Cottrell, President and CEO, La Terra Fina. “What made us pleased is that Sargento is a family-owned business focused on long-term results, which also fits how we run our business. I’m excited to enter our next chapter focused on growth and innovation. We know our brand is in the best of hands with Sargento.”
Sargento, founded in 1953, is based in Plymouth, Wis., and has more than 2,500 employees and $1.7 billion in net sales. The family-owned company manufactures and markets shredded, sliced, and snack natural cheese products, as well as ingredients.
