General Mills finalized the heretofore anonymous acquisition of the assets of Gladstone Food Products, which shut down in January 2025, according to local news reports. General Mills outdueled more than 40 potential buyers in coming to an agreement to purchase the parent of the La Tiara taco shell and seasoning brand for $10 million last month.
A judge approved the deal last month and the transaction has since closed, at which point General Mills was revealed to be the buyer, confirmed by the recorder of deeds in Clay County, Mo. The company also confirmed the acquisition in a statement to the news outlet.
Gladstone reported more than $6 million in sales in fiscal 2024 against more than $5 million owed to creditors at the time that it closed.
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.
