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505 Southwestern® Flame Roasted Green Chile to be Sold in Walmart Stores Across U.S.

Company’s recent investment in increased manufacturing capacity helps to support nationwide expansion

Albuquerque, New Mexico and Greenwood Village, Colorado

505 Southwestern®, the country’s leading Hatch Valley flamed roasted green chile brand, announced today that its premium products, including its flagship jarred Flame Roasted Green Chile product, will be sold in almost all Walmart stores in the United States.  Rolling out over the next several months, consumers served by all 4,461 Walmart locations across the country will be able to purchase 505SW™ at their local store, as well as on-line.  

The company attributes this growth to increased consumer demand as Americans in all parts of the country have embraced flame roasted green chile as a premium ingredient and condiment.  In addition, the company’s recent investments in its five manufacturing and distribution sites across New Mexico and Colorado have allowed 505SW™ to be a reliable supplier to its customers even as global supply chains have been disrupted.  

“It has been our long-standing goal to bring the flavor of Hatch Valley, flame roasted green chile to consumers in all corners of the country, and this expansion with Walmart is a critical step in this mission,” said Rob Holland, Executive Chairman for Flagship Food Group, parent of 505 Southwestern®.  “We’ve made some strategic decisions over the past few years to invest heavily in our manufacturing capacity and distribution network, and that has allowed us to better serve our customers and keep up with growing demand.”

Several other 505SW™ products will be available in many Walmart stores around the country, including the brand’s lineup of green chile sauces, salsa, and other products all made with Hatch Valley green chile.

“Discerning consumers know us as ‘THE’ premium green chile proudly sold in a glass jar, not a can,” added Sam Carson, the brand’s President.  “For 25 years, customers prefer the freshness and quality of our flame roasted green chile and have chosen our product over the competition.” 

In addition to Walmart stores, 505SW can be found at many major grocers, club stores, and on-line retailers across the US.

About 505 Southwestern®
505 Southwestern®, together with its family of brands and affiliates, is one of the leading premium green chile-based products companies in the country. The brand’s core lineup of shelf stable, premium New Mexico salsas, sauces, and flame roasted green chile is the fastest growing of its kind in the USA and is currently sold from London to Los Angeles. The brand’s portfolio also includes queso as well as frozen stews and diced green chile.  505 Southwestern® has a commitment to giving back and formed the 505 Southwestern®-New Mexico True Scholars program in conjunction with the State of New Mexico to support a future generation of farmers through its scholarship program.  The company is based near Denver with its manufacturing headquarters in New Mexico.

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Media Contact:
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Flagship Food Group Announces Investment from BlackRock

In partnership with CREO Capital Partners, the transaction brings additional capital and resources to the branded, diversified food company

NEW YORK, New York and DENVER, Colorado.

Flagship Food Group (“Flagship” or the “Company”) and its parent, Denver-based CREO Capital Partners (CREO), announced today that BlackRock’s Secondaries and Liquidity Solutions group (“BlackRock”) has made a significant investment in the Company to help support the business as it grows and accelerates its acquisition strategy. BlackRock’s investment was funded through CREO Capital Partners and terms of the investment were not disclosed.

“Over many years our team at Flagship has worked to build one of the leading privately held, diversified food companies in the country, and to now be in a place where a global investor like BlackRock recognizes the momentum of our business and the potential opportunities that lie ahead is very exciting,” said Rob Holland, Founding Partner of CREO and the Company’s Executive Chairman. “We are honored to welcome BlackRock and a number of other investment firms into our family as we continue to grow our platform.”

“In making investments, we look for companies that have a passion for what they do. Flagship has a very clear passion to bring high-quality, premium food products to consumers around the world, and we are excited about supporting their mission as they grow,” said Veena Isaac, Managing Director of BlackRock’s Secondaries and Liquidity Solutions team.

In recent years, Flagship has grown aggressively by expanding its brands and products and by acquiring likeminded food companies. Its 505 Southwestern® brand is the largest jarred green chile brand by market share in the USA, and its Lilly B’s® brand of organic burritos is one of the leaders in the category.

Earlier this year, the Company broadened its reach in the Hispanic foods sector by acquiring Santa Rosa, CA-based La Tortilla Factory and Moundridge, KS-based Tortilla King.

According to CREO, the investment by BlackRock and other investors will help strengthen the Company’s ability to source and fund acquisitions, expand the Company’s facilities, and invest in marketing and innovation initiatives. In conjunction with the new partnership, Flagship also announced Flagship50, a program designed to enhance Flagship’s commitment to giving back to its communities and to expand its educational scholarship programs. Flagship’s 505 Southwestern-New Mexico True Scholars program, launched in 2017, helps to support higher educational opportunities for students interested in agriculture; this and similar programs are expected to expand in conjunction with the new partnership.

“We share the BlackRock team’s commitment to seeking to build great businesses and positioning them for potential success over the long term,” added Holland. “Our company and our management teams will operate just as they always have, but now with more resources to deliver for our customers and partners.”

BlackRock led the transaction. Capital Dynamics, among other existing investors in CREO including Committed Advisors, PineBridge Investments, and Kline Hill Partners, extended their investment in Flagship.

Sixpoint Partners LLC and Nixon Peabody LLP served as advisors to CREO. Akin Gump Strauss Hauer & Feld LLP served as advisor to BlackRock. Kirkland & Ellis LLP advised several of the investors in the investor group.

About Flagship Food Group
Flagship Food Group is a Premium and Hispanic-foods focused diversified food company that manufactures, sells, and distributes food products under the 505 Southwestern, Lilly B’s, Hatch Kitchen, Mapa Lupe’s, TJ Farms, La Tortilla Factory, and other brands. The Company also partners with leading food retailers to develop R&D-driven private label programs, and provides food logistics, warehousing, and freight management services within the food industry. The Company operates facilities and offices in or near Boise, ID, Denver, CO, Albuquerque, NM, Santa Rosa, CA, San Francisco, CA, Minneapolis, MN, and Moundridge, KS.

About CREO Capital Partners
CREO Capital Partners is a Denver, CO-based investment firm exclusively focused on the food and consumer products industry segments. Founded in 2005, the firm has successfully invested in over 20 food companies in the USA and the UK, and focuses on partnerships with outstanding management and premium brands. Investments have spanned the branded retail, private label, food logistics, and food distribution industry sub-segments. With many of its investments held via its diversified food business, Flagship Food Group, CREO actively seeks dialogue with food companies that have an interest in joining in the Flagship journey.

About BlackRock Alternative Investors
BlackRock Alternative Investors serve investors seeking outperformance in real estate, infrastructure, private equity, credit, hedge funds and alternative solutions. We strive to bring our investors the highest quality investments by drawing upon our global footprint, superior execution capabilities and position as a preferred partner. BlackRock manages $283 billion in alternative investments and commitments on behalf of clients worldwide as of June 30, 2021.

Media Contact: Courtney Lis, VOCA Public Relations, 970.581.6231 email hidden; JavaScript is required

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Tortilla King Announces Investment by Flagship Food Group

Kansas-based Maker of High-quality Tortillas and Tortilla Chips Secures Investment by Leading Diversified Food Company  

Tortilla King announced today that Flagship Food Group, LLC (Flagship) has agreed to make an investment into Tortilla King to support its future growth and expansion strategy.  Flagship will become the majority owner in the company while current local management remains in place and Juan Guardiola remains a shareholder. 

With the acquisition, Flagship solidifies its place as one of the leading and largest privately held food companies in the country focusing on Hispanic brands with an emphasis on premium products. 

“I’ve known the team at Flagship for many years, and we’ve been a supplier and partner of theirs across several of their product portfolios.  Coming together as one company made sense for them, for me, and for our valued employees and customers,” said Juan Guardiola, co-founder of Tortilla King.  Guardiola will remain in his role as President of Tortilla King. 

“We are building a world-class, scaled, diversified food company.  The Hispanic foods category has been our principal focus for nearly a decade, and the addition of Tortilla King expands both our capabilities and geographic footprint,” said Rob Holland, founder of CREO Capital Partners and its managing partner.  Holland helped lead the firm’s acquisition of 505 Southwestern over a decade ago and has driven the brand’s growth by over 15-fold during CREO’s ownership.