The transaction includes substantially all of the assets of the company, which will be renamed El Burrito Mexican Foods Products Corp., and become a subsidiary of House Foods Holding USA Inc. The financial terms of the sale have not been disclosed.
"El Burrito is an established and successful company that has grown and prospered at the hands of its founders, Mark and Grace Roth, who share a great passion for their products," says Shigeru Natake, president of House Foods America. "El Burrito's corporate philosophy is very similar to that of House Foods America so we believe we will enjoy great synergy as we work together in the future. Adding healthy Mexican food products to our existing Asian line will allow us to offer consumers a wider variety of healthy lifestyle choices. In the US market, where many different cultures coexist, we anticipate accelerated growth and expanded profits as a result."