MegaMex Foods Announces Close of Fresherized Foods Acquisition

Fresherized Foods produces Wholly Guacamole, Wholly Salsa and Wholly Queso products. Annual sales are expected to be about $140 million.

Aug 23 2011 --- MegaMex Foods LLC, a joint venture between Hormel Foods Corporation (NYSE: HRL) and Herdez Del Fuerte, S.A. de C.V., has announced the closing of an agreement to acquire 100 percent of Fresherized Foods.

Fresherized Foods produces Wholly Guacamole, Wholly Salsa and Wholly Queso products. Annual sales are expected to be about $140 million.

Wholly Guacamole is the leading brand of prepared guacamole in the United States. Guacamole and other 100-percent real avocado products continue to grow in popularity with supermarket and restaurant consumers due to their great flavor and nutritional attributes. Fresherized Foods uses High-Pressure Processing (HPP), a U.S. Department of Agriculture approved all-natural process. HPP uses high water pressure technology to protect the avocado product. This process implements the highest standards of food safety without using preservatives or compromising the great taste and nutritional value of the avocado product.

“We look forward to the growth Wholly Guacamole, Wholly Salsa and Wholly Queso products will add to the MegaMex Foods portfolio of products,” said Enrique Hernández-Pons Torres, chairman of the board of MegaMex Foods. “This acquisition enhances the position of MegaMex Foods as a one-stop-shop for Mexican foods.”

“We are pleased with the closing of this purchase,” said Luis G. Marconi, managing director at MegaMex Foods. “Guacamole continues to build in popularity among consumers, not only as a nutritious and flavor-enhancing dip, but also as a sandwich spread. We look forward to developing programs with these products that will expand the presence of our Mexican-inspired food products in the marketplace.”