Irving, Texas – Xochitl, the beloved tortilla chips and salsa maker, has made a major move by joining forces with private investment firm Forward Consumer Partners. The partnership will see Forward Consumer Partners acquiring a 50% ownership stake in the company, while Xochitl’s founder, Carlos Salinas, will retain the remaining 50% interest.
This exciting development marks Xochitl as Forward Consumer Partners’ second acquisition under its $425 million Fund I, which closed in December 2023. Xochitl, founded in 1995, has a rich history rooted in family tradition. The company’s journey began with a cherished salsa recipe passed down through generations, which eventually led to the creation of their signature white corn tortilla chips.
Known for their commitment to quality, Xochitl produces USDA certified organic white corn chips that are oven-baked and quick fried. Their chip flavors range from sprouted corn to organic blue, offering a variety to suit every taste. Complementing their chips are a selection of salsas featuring a blend of fire-roasted Habanero peppers, roasted onions, and herbs.
Carlos Salinas expressed his excitement about the partnership, stating, “As I looked for the right partner for our next chapter, it was essential to find a team with the experience, ambition, and character to match the mission we’ve honored for three decades.” With Forward Consumer Partners’ expertise and vision, Salinas is confident that Xochitl will continue to thrive for years to come.
Matt Leeds, founder and managing partner of Forward Consumer Partners, will step in as chairman of Xochitl, bringing his passion for the brand and commitment to its legacy. Leeds remarked, “We see immense opportunity to build on the authenticity, heritage, and quality that define Xochitl, and we’re honored to help enhance the foundation that will support the company for its next three decades and beyond.”
This partnership between Xochitl and Forward Consumer Partners promises to bring new growth and innovation to the beloved brand, ensuring that fans can continue to enjoy their favorite tortilla chips and salsas for years to come. Stay tuned for more exciting developments from this dynamic duo.