HP Hood buys dips maker La Terra Fina from Canada’s Claridge group
La Terra Fina USA has been expanding into the organic category with a new range of products.
MONTREAL, Oct 14. 2015 /CNW Telbec/ - Claridge Inc. is pleased to announce the sale of one of its portfolio companies, La Terra Fina USA, based in Union City, California, to an affiliate of HP Hood LLC, effective Oct. 9, 2015.
Pierre Boivin, the President and CEO of Claridge Inc., stated, "We are extremely proud of the level of success that the management team at La Terra Fina USA has accomplished since the acquisition in 2005. Claridge is excited about the future growth prospects of the company in the hands of an outstanding organization with similar values to us and that have the resources and successful track record to allow La Terra Fina USA to reach its full potential".
About La Terra Fina USA
La Terra Fina USA is located in the San Francisco Bay area and manufactures and distributes a full line of refrigerated dips and quiches nationally and internationally. All recipes are made with simple, wholesome, natural ingredients to deliver fresh taste. La Terra Fina USA, known for clean label products has been expanding into the Organic category with a new range of products.
About HP Hood LLC
Founded in 1846, today Hood is one of the largest branded dairy operators in the United States. Hood currently owns and operates 13 manufacturing facilities throughout the U.S. and has an in-house research and development operation which supports their superior product quality and innovation. Hood is the number one dairy brand in New England, and Hood's portfolio of national and super-regional brands and franchise products includes Hood, Crowley®, Simply Smart® Milk, Heluva Good!®, LACTAID®, BAILEYS® Coffee Creamers, HERSHEY'S Milk and Milkshakes and Blue Diamond Almond Breeze® Almondmilks. For more information about Hood, please visit www.Hood.com .
About Claridge Inc.
Claridge Inc. represents the interests of the Stephen Bronfman family and is actively involved in the management of a diverse portfolio of investments in private equity, hedge funds, public equities, and real estate. The other food company currently held in their portfolio is Plats Du Chef based in Montreal Quebec, Canada. Plats Du Chef is a leading manufacturer and distributor of branded and private label frozen meals, snacks and appetizer products in Canada and the USA.
Claridge Inc. was advised by Houlihan Lokey and Davies, Ward, Phillips & Vineberg.