La Costeña completes acquisition of Faribault Foods

Packaged foods manufacturer La Costeña group has completed its acquisition of Faribault Foods for an undisclosed amount.

As per the deal, Faribault will be merged with La Costeña’s US affiliate Arizona Canning. Both the firms will be operated as Faribault Foods with headquarters in Minneapolis.

With this deal, Faribault will now have around 700 employees – 550 employees at three facilities in Faribault, Cokato and Elk River in Minnesota and around 150 employees at the Tucson facility in Arizona.

Arizona Canning president and CEO Albert Hoflack said: "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.

"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 US business."

Faribault Foods president and CEO Reid MacDonald said: "We believe that this partnership represents a significant opportunity for our companies, employees, customers and the communities where we do business. We are excited to accelerate the new organisation’s growth."

Faribault is a privately held manufacturer of canned beans and vegetables.

Faribault produces products such as S&W canned beans, Butter Kernel, Kuner’s and Kuner’s Southwestern, Chilliman, Mrs. Grimes, Pride and KC Masterpiece baked beans.

In addition, the company has private label and contract manufacturing business with top branded companies.

Arizona Canning produces products such as Sun Vista, Luck’s, Kerns and Totis.