CLEVELAND, OH (February 27, 2018) – Blue Point Capital Partners and its Blue Point III portfolio company, Italian Rose Gourmet Products, announced the acquisition of La Mexicana Food Products, a fresh, refrigerated salsa manufacturer based in Vernon, California.
This transaction represents the first add-on acquisition for Italian Rose since Blue Point acquired the platform investment three months ago, in November 2017.
“From the time of our initial investment in Italian Rose, we saw significant opportunities to broaden the Company’s market presence. The acquisition of La Mexicana, one of the leading fresh salsa brands in the country, will enable the combined Company to present a unique value proposition to salsa buyers nationwide,” said Jonathan Pressnell, a Principal with Blue Point.
Italian Rose, headquartered in West Palm Beach, Florida, is a leading manufacturer and distributor of premium salsas, dips, sauces and spreads to major retail and foodservice channels. The addition of La Mexicana’s West Coast operations to Italian Rose’s East Coast presence will put the combined Company in a select universe of truly national salsa producers, as well as provide increased scale, production diversity and product breadth to both companies’ customers.
“The strength of the two companies has been their brands and recipes that have endured over time. We will continue to develop and expand both companies to allow more consumers to enjoy the “fresh to table” experience on a national basis,” said Angelo Fraggos, an Operating Executive with Blue Point and CEO of Italian Rose.
“For a combined 60 years, Italian Rose and La Mexicana have been manufacturing and distributing fresh, better-for-you products, and their efforts continue to redefine industry standards,” said John LeMay, a Partner with Blue Point. “Combining these two industry leaders was a natural and complementary fit. We are thrilled to add La Mexicana to the Italian Rose family.”
Blue Point Capital Partners is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a larger, global organization. The Blue Point partner group has a 19-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $200 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS
127 Public Square, Suite 5100
Cleveland, OH 44114
Partner
(216) 535-4707
Principal
(216) 535-4713