Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Mateo’s Gourmet Salsa (Mateo’s) to Sauer Brands, a portfolio company of Falfurrias Capital. BGL’s Food & Beverage investment banking team served as the exclusive financial advisor to Mateo’s in the transaction, which furthers BGL’s expertise within branded specialty foods and the broader consumer packaged goods sector. The specific terms of the transaction were not disclosed.
Mateo’s was founded by Andrew Robbins in 2010 as a supplier of branded, better-for-you (BFY) gourmet salsa. Today, the company offers a diverse selection of salsas and drink mixes to the U.S. retail market. The Mateo’s recipe for success starts with all-natural and gluten-free products and adds in intense flavors, resulting in a truly unique product offering. The company’s core focus on the salsa category and its high quality, proprietary recipes has proven successful; Mateo’s has grown into one of the largest independent, shelf-stable salsa brands in the U.S. and has consistently outperformed larger, well-capitalized strategic portfolios. In 2020, Mateo’s recorded phenomenal sales growth that far exceeded the industry.
“I could not be happier with the outcome of this transaction,” said Robbins. “The BGL team did an outstanding job understanding, positioning, and communicating the Mateo’s brand to the market. Their strong relationships within the relevant buyer universe – along with their customized process – yielded the optimal result for me and my family. I thank them for all they have done.”
BGL’s Food & Beverage team, led by Daniel J. Gomez, has deep sector knowledge and extensive transaction experience representing companies across the entire food and beverage landscape. Coverage includes retail of both branded and private label products, global supply chain sourcing, processing, distribution, and wholesale.