Overview
- The Arnold Companies takes a significant minority position as part of the transaction, joining Highlander as an equity partner.
- Financial terms were not disclosed, while J.P. Morgan led senior financing and NMP Capital provided financing and equity.
- Stout served as exclusive financial advisor to Tapatio, and Katten advised Highlander on legal matters.
- Highlander outlines plans to expand Tapatio’s geographic reach, deepen penetration in retail and foodservice channels, and enter complementary categories.
- Founded in California in 1971 by Jose-Luis Saavedra Sr., Tapatio is billed as the No. 5 U.S. hot-sauce brand with strong Western U.S. presence and long-running snack collaborations with Frito-Lay.