Tio Francisco Cheese, Cream Products Brand Acquired Out of Bankruptcy
Rilosa LLC — an entity controlled by the founders of Rizo-Lopez Foods Inc. — and California dairy ingredient provider Valley Milk have formed Francisco Foods LLC, a joint venture majority-owned by Valley Milk. Subsequently, Francisco Foods has acquired substantially all of the assets of Rizo-Lopez Foods Inc. out of bankruptcy proceedings, according to a release.
Rizo-Lopez Foods will cease to exist, but its workforce, customer base and the Tio Francisco brand of Hispanic-style dairy products will continue under Franscisco Foods with Valley Milk as its majority owner. The Rizo family will retain a “meaningful” ownership stake through Rilosa, which is controlled by Edwin and Ivan Rizo, who founded Rizo-Lopez Foods.
Turlock, Calif.-based Valley Milk was founded by dairy families, nutritionists and veterinarians in the Central Valley of California, and it processes more than 2.5 million pounds of raw milk per day. With its backing, the Tio Francisco brand is expected to “come back stronger,” according to Edwin Rizo, providing the cheeses and cream products its customers have been accustomed to receiving.
About the Author
Andy Hanacek
Senior Editor
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.