La Costeña will combine Arizona Canning and Faribault under Faribault name in Minneapolis.
La Costeña group, a privately held global leader in a wide range of packaged foods categories, said it completed its acquisition of Faribault Foods, a Minneapolis-based manufacturer of canned beans and vegetables. Officials say Faribault Foods will be combined with La Costeña’s U.S. affiliate, Arizona Canning, based in Tucson, Ariz. The combined companies will operate as Faribault Foods and be headquartered in Minneapolis. Financial terms of the deal were not disclosed.
“This is an exciting day for Arizona Canning and Faribault Foods, as we merge our strong brand portfolios, enhance our leading market positions and broaden our geographic reach,” says Albert Hoflack, president and CEO of Arizona Canning. “We welcome the addition of Faribault Foods’ talented team to our own. Together, our goal is to provide customers with superior branded products, private label and contract manufacturing capabilities, and grow our U.S. business.”