Authentic Specialty Foods To Be Acquired by Agrobios

Authentic Specialty Foods, Inc. (Grand Prairie, TX) has entered into a definitive merger agreement with Agrobios, a subsidiary of DESC, S.A. de C.V., under which Agrobios will acquire Authentic Specialty Foods.

Authentic Specialty Foods, Inc. provides Mexican food products targeted to the Mexican-American consumer. The company's five recognized brands have strong market positions in the largest Mexican-American markets.

The company sells tortillas and tortilla chips, salsas and Mexican sauces, cheeses, meats and other shelf-stable products under the Calidad, La Victoria, La Monita, Tortilla King and Alamo Street labels to the grocery, food service, mass merchandise and club store channels of trade.

DESC, S.A. de C.V. is one of the largest industrial groups in Mexico.

Fernando Senderos, chairman and CEO of DESC, stated, "This acquisition is part of DESC's strategy to expand its branded food businesses, such as authentic Mexican foods, and it provides a platform for future growth in the U.S. and Mexico."

Edited by Pam Ahlberg