Flowers Foods acquires tortilla maker
October 19, 2009
by FoodBusinessNews.net Staff
THOMASVILLE, GA. – Flowers Foods, Inc. has acquired Leo’s Foods, Inc., a family-owned tortilla manufacturer with one facility in Fort Worth, Texas. Terms of the agreement were not disclosed.
Leo’s Foods manufactures flour and corn tortillas as well as tortilla chips that are sold nationwide to food service and institutional customers. The company’s annual revenues are approximately $30 million and it employs 230.
"Leo’s Foods brings to Flowers a solid company with decades of experience in making high-quality tortilla products," said George E. Deese, Flowers Foods’ chairman, chief executive officer and president. "Leo’s will allow us to expand our presence in the tortilla market, which we have been serving since 1994 with our Mi Casa brand, and it aligns well with our food service business. We’re pleased to have this fine organization join Flowers Foods."
Leo’s Foods will be operated as a subsidiary of Flowers Bakeries. The owners of Leo’s Foods, Leo and Sule Jimenez, have announced plans to retire following the sale. Flowers Foods announced that Jaime Garcia will remain as general manager of the subsidiary.