SANTA ROSA, CALIF. — Flagship Food Group, LLC has agreed to an investment in La Tortilla Factory, Inc. that will make it the company’s majority stakeholder while providing an influx of cash to support future growth. Financial terms of the transaction were not disclosed.
“We are excited and eager to embrace Flagship Food Group and its entire family of companies and brands as supporters of La Tortilla Factory’s strategic growth plan,” said Jeff Ahlers, chief executive officer of La Tortilla Factory. “Their investment acumen and broader experience in the food industry will support and accelerate our strategy, especially given their success and enthusiasm within the Mexican food category.”
La Tortilla Factory was founded in 1977 by the Tamayo family. The company began by serving local northern California restaurants and retailers. It has since grown into a major national distributor of tortillas focused on the better-for-you, organic, and low-carb categories. La Tortilla Factory operates a manufacturing facility in northern California and operates distribution facilities in multiple cities on the West Coast.
Flagship Food is a diversified food company that sells a range of food products under the 505 Southwestern, Lilly B’s, and TJ Farm’s brands. The company also partners with leading food retailers to develop R&D-driven private label programs and provides food logistics, warehousing and freight management services within the food industry. Flagship Food operates facilities and offices in Boise, Idaho; Denver; Albuquerque, NM; Santa Rosa and San Francisco; Minneapolis; and Indianapolis. The company is majority-owned by Denver-based CREO Capital Partners.
“As Flagship has continued to focus on premium-oriented food brands, and in particular in the Hispanic foods sector, it became clear to us that La Tortilla Factory was a perfect addition to our platform,” said Rob Holland, founding partner at CREO. “Being one of the leading brands in the better-for-you segment of the tortilla and Mexican food space, LTF further enhances our ability to execute on our growth strategy.”