PHOENIX — Sigma Alimentos, SA de CV, a multinational food company, has agreed to acquire a majority stake in Los Altos Foods, a Hispanic cheese and cream producer headquartered in City of Industry, Calif. Financial terms of the transaction were not disclosed.
Los Altos Foods was founded in 1988 by the Andrade family and generates approximately $100 million in annual revenue. The company’s products include queso fresco, aged cheese, soft cheese, melting cheese, Oaxaca cheese and cream. It operates one plant near Los Angeles and employs more than 260.
“This transaction is aligned with Sigma’s strategy and will allow us to continue growing the core business by strengthening our position in a rapidly growing market that is gaining space in mainstream consumption,” said Rodrigo Fernandez, chief executive officer of Sigma. “We are excited about the prospect of welcoming Los Altos, a great Hispanic cheese brand, to our portfolio. I’m confident that the sum of Los Altos and Sigma will allow us to better satisfy the needs of our customers and consumers. This transaction also enhances our existing network with production capacity on the West Coast.”
Sigma operates in 18 countries throughout North and South America and Europe. The company makes and distributes branded foods, including packaged meats, cheese, yogurt, plant-based and other refrigerated and frozen foods. The company’s portfolio includes more than 100 brands, including FUD, Campofrio, Bar-S, San Rafael and Aoste.