Hormel Foods Corp., Austin, Minn., acquired Arriba Foods Inc., manufacturer and marketer of Mexican food products, for $47 million in cash. The company was purchased from Chicago, Ill.-based Arbor Private Investment Co. L.P. The operating units of Arriba Foods, Mexican Accent Inc. and Rio Real Inc., based in New Berlin, Wis., manufacture and distribute a wide variety of premium Mexican flour tortillas, corn tortillas, salsas, seasonings and tortilla chips for retail markets and the foodservice industry. These products are marketed under the Manny's, Gringo Pete's and Mexican Accent brands.
