Sargento Foods has signed a definitive agreement to acquire La Terra Fina, a producer of premium refrigerated dips, spreads, quiches and salads.
The acquisition will give Sargento a presence in the deli departments of grocery retailers nationwide while expanding the family-owned company beyond its traditional natural cheese products.
Financial terms were not disclosed. The transaction is expected to close in late September.
La Terra Fina’s products include Spinach Artichoke & Parmesan Dip, Classic Lorraine Quiche, Cheddar & Broccoli Quiche, Pineapple Habanero Dip and Orzo Mozzarella & Balsamic Salad.
Founded in 1983, the company is headquartered in Union City, California, and has approximately 250 employees. It operates a roughly 100,000-square-foot production facility near San Francisco.
La Terra Fina products are sold through club stores, supermarkets and specialty grocery retailers across the United States, Canada and Mexico.
The company has operated as a private affiliate of Catamount Management Corporation since 2015.
Sargento said the acquisition complements its focus on real food, premium ingredients and product innovation. The company plans to invest in the continued growth of the La Terra Fina brand while integrating its employees into the broader Sargento organization.
Sargento has more than 2,500 employees and approximately $1.7 billion in annual net sales. The company was founded in 1953 and is known for helping popularize prepackaged sliced and shredded natural cheese in the United States.
KEY QUOTES:
“Our purpose at Sargento is to find new ways to add value to people’s lives. Every day we do our best to make their lives better with food that brings them together.”
“For more than 70 years, our commitment to innovation has driven our success that we share with our employees, customers, suppliers and community. We will continue this legacy by growing the La Terra Fina brand and welcoming new members of the Sargento Family.”
Louie Gentine, Third-Generation Chairman and CEO of Sargento Foods
“This venture reflects the strength of what we’ve built and puts La Terra Fina in a great position for accelerated growth. And what’s even better is that our cultures are genuinely aligned. Sargento puts people first, just as we do.”
“What made us pleased is that Sargento is a family-owned business focused on long-term results, which also fits how we run our business. I’m excited to enter our next chapter focused on growth and innovation. We know our brand is in the best of hands with Sargento.”
Stephen Cottrell, President and CEO of La Terra Fina
