US-based diversified food company Flagship Food Group has acquired a majority stake in La Tortilla Factory (LTF), which produces tortillas and authentic Mexican foods.

Headquartered in Santa Rosa, California, La Tortilla Factory was founded by Jose and Mary Tamayo and engages in the production and distribution of premium and better-for-you tortillas and Mexican food products.

The size of the investment made by Flagship remains undivulged.

LTF CEO Jeff Ahlers said: “We are excited and eager to embrace Flagship Food Group and its entire family of companies and brands as supporters of La Tortilla Factory’s strategic growth plan.”

“Their investment acumen and broader experience in the food industry will support and accelerate our strategy, especially given their success and enthusiasm within the Mexican food category.”

LTF said it will use Flagship’s investment to support its future growth strategy.

Under the deal, the third generation Tamayo family members will continue their association with the company.

CREO Capital Partners founding partner Rob Holland said: “As Flagship has continued to focus on premium-oriented food brands, and in particular in the Hispanic foods sector, it became clear to us that La Tortilla Factory was a perfect addition to our platform.

“Being one of the leading brands in the better-for-you segment of the tortilla and Mexican food space, LTF further enhances our ability to execute on our growth strategy.”

The transaction closed on 27 January.

Majority owned by CREO Capital Partners, Flagship sells a wide range of food products and services under various brands including 505 Southwestern, Lilly B’s, TJ Farms, as well as other brands.