In order to facilitate future growth, Tortilla King recently announced that Flagship Food Group agreed to make an investment to support the company’s expansion strategy. According to terms of the agreement, this means that the company will be acquired by Flagship, which will then become the majority owner.
“I’ve known the team at Flagship for many years, and we’ve been a supplier and partner of theirs across several of their product portfolios. Coming together as one company made sense for them, for me, and for our valued employees and customers,” stated Juan Guardiola, Co-Founder of Tortilla King. He will remain in his role as President of Tortilla King.
With the acquisition, Flagship solidifies its position as one of the leading and largest privately held food companies in the country, according to a press release. It focuses on Hispanic brands with an emphasis on premium products.
Majority owned by CREO Capital Partners, Flagship is a diversified food company that sells a wide range of food products under a variety of brands. Most of Flagship’s brands are rapidly expanding, having experienced significant growth and expanded national distribution in recent years.
“We are building a world-class, scaled, diversified food company. The Hispanic foods category has been our principal focus for nearly a decade, and the addition of Tortilla King expands both our capabilities and geographic footprint,” remarked Rob Holland, Founder and Managing Partner of CREO Capital Partners.
Tortilla King operates manufacturing and distribution facilities across the Midwest. An innovator in the category, the company has developed low carb, net zero carb, and gluten-free tortilla offerings for its customers focused on health and wellness.
“Simply put, we are here to support growth,” said Forrest Kragten, a Principal at CREO. “As part of the transaction, we approved and supported a significant expansion of the Tortilla King operation in Kansas. We’re excited to bring more volume and production to this area and to this outstanding team.”
We’ll continue to keep our eyes on developing sectors, so stay tuned for the latest.