Food and Beverage Business

Investment firm Forward Consumer Partners acquires ownership interest in Xochitl

Investment firm Forward Consumer Partners acquires ownership interest in Xochitl Savoury Snacks Food and Beverage Business
In the latest move in the food and beverage industry trends, US-based private investment group Forward Consumer Partners has partnered with local tortilla chips and salsa producer Xochitl.

The partnership involves Forward acquiring a 50% ownership stake in Xochitl, with the company’s founder and CEO, Carlos Salinas, retaining the remaining 50% share.

This strategic move, fueled by Forward’s Fund I, which closed at $425m in December 2023, aims to enhance Xochitl’s position in the food and drink business.

Established in 1995, Xochitl is known for its range of plain and flavored corn tortilla chips and salsas, making it a key player in food and drink consumer trends. The company operates from its base in Irving, Texas, positioning itself as the largest independent corn tortilla chips brand in the US.

Xochitl distributes its products both online and through various retailers in North America, such as Hannaford, Davidson Specialty Foods, KeHE, Nassau Candy, and Abhraham Natural Foods.

The brand also has a global reach, exporting to South America, Europe, Asia, and the Middle East, showcasing its impact on the international food and beverage market.

Commenting on the collaboration, Salinas expressed excitement, stating, “Forward brings the vision and execution to help achieve our aspirations, and I couldn’t be more excited to embark on this journey together.”

Matt Leeds, founder and managing partner of Forward Consumer Partners, highlighted the potential of the partnership, saying, “There is so much to love about Carlos’ story and the brand he has created. We see immense opportunity to build on the authenticity, heritage, and quality that define Xochitl.”

Notably, this deal marks Forward’s second acquisition from Fund I, following its majority stake purchase in Washington-based bakery Firehook Bakery, showcasing the investment firm’s commitment to expanding its presence in the food and drink industry.

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