Faribault Foods Bought by Mexican Canner
Minnesota canner Faribault Foods has been purchased for an undisclosed price by privately owned La Costeña, one of Mexico’s largest canned food companies. The (St. Paul) Pioneer Press reported the new owners will merge Faribault with La Costena's U.S. canning affiliate, Arizona Canning.
The new entity will retain the Faribault Foods name and will be headquartered in Minneapolis. The current Faribault Foods' management team, employees and facilities will be retained. "Faribault Foods now will have approximately 700 total employees, with about 550 at three plants in Faribault, Cokato and Elk River, Minnesota, and about 150 employees at a Tucson, Arizona, facility," the paper quoted company statements.
Albert Hoflack, head of La Costeña’s Arizona Canning, will be Faribault Foods’ new CEO, reports the Minneapolis Star-Tribune. La Costeña bought a former Slim-Fast factory in Tucson in 2006 to begin U.S. operations.
Faribault has been focusing on canned beans of late with brands S&W, Kuner and Mrs. Grimes. The company also makes Butter Kernel canned vegetables, Chilli Man chili and private-label fruit juices.