Chicago-based cheese and desserts business adds to Flagship’s diversified food portfolio
CHICAGO, IL & BOISE, ID – SmartPrice Sales & Marketing Inc. (SmartPrice) announced today that Flagship Food Group, LLC (Flagship), the owner of TJ Farms, 505 Southwestern and La Tortilla Factory, has acquired the operations of SmartPrice to support its future growth and expansion strategy. Flagship will become the majority owner of the company while current management remains in place; both Andy Topus and Scott Schwartz will remain shareholders and active in the combined business.
SmartPrice sells and markets cheese, deli meats and dessert products, including Mexican Shreds, Singles, and other refrigerated products. The Company also has a line of frozen Mexican handheld snacks. The Company sells under the Casa Del Sol, Sunny Acres, Dolce Tuscano, and other brands. With the acquisition, Flagship adds to its portfolio of products and enters the dairy and refrigerated space.
“We started SmartPrice almost 22 years ago to bring a portfolio of value priced perishable products to consumers. We filled a void and consumers responded. As we have grown, we’re thrilled to be partnering with Flagship to help us achieve our long term goals,” said Andy Topus, CEO and founder of SmartPrice.
Scott Schwartz has joined Flagship as a Vice President and will continue in his role as he manages the SmartPrice business within Flagship’s TJ Farm’s division. “I am so excited about what we can do with our brands and products inside the Flagship organization, where we will have vastly expanded resources,” said Schwartz about the transaction.
“We are thrilled to welcome Andy and Scott to our family. We’re a collection of family and small food businesses that are stronger together,” said Gary Lim with Flagship. Gary noted that Flagship has acquired over 20 food companies since 2005.
Majority owned by CREO Capital Partners, Flagship is a diversified food company that sells a wide range of food products and services under the 505 Southwestern, La Tortilla Factory, Lilly B’s, Hatch Kitchen, TJ Farms and other brands. Most of Flagship’s brands are rapidly expanding, having experienced significant growth and expanded national distribution in recent years. 505 Southwestern, crafted with New Mexico Hatch Valley green chiles, is the country’s largest jarred green chile brand.
“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 SmartPrice expands both our capabilities and geographic footprint,” said Matt Finnerty with CREO Capital Partners, who led the transaction for the firm.
Last year, Flagship and CREO announced the acquisition of La Tortilla Factory, a Santa Rosa, California-based maker of premium tortillas and Hispanic food products. The Company also acquired Tortilla King and Young Guns in 2021.
The transaction closed in December. Terms of the transaction are confidential.
Media Contact: Courtney Lis, VOCA Public Relations