The new company, Teasdale Foods, will be headquartered in Atwater, Calif., and continue to employ 125 people there, spokesman John Segale said.
It will continue to run the Zateca Foods plant in Greeley, Colo., and the Hoopeston Foods plant in Hoopeston, Ill., which Teasdale Quality Foods bought last year. The workforce across the three sites totals about 350 people.
The hominy and many of the bean products are aimed at a Latino food and beverage market in the U.S. that is projected to grow from $8 billion in sales last year to $11 billion in 2017, according to the Packaged Facts consumer research firm.
“We are very excited about the future prospects of our aggressively growing company,” said Alberto Bandera, chief executive officer at Teasdale Foods, in a news release.
Teasdale is part of the portfolio of Palladium Equity Partners, based in New York City.