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Faribault Foods acquired by Mexican company; Minn. operations to remain [Pioneer Press, St. Paul, Minn. :: ](Saint Paul Pioneer Press (MN) Via Acquire Media NewsEdge) Aug. 01--Vegetable canner Faribault Foods has been acquired by a Mexico-based food company, which said it intends to keep its Minnesota canning plants and headquarters operations broadly intact. La Costena Group announced the acquisition Friday of privately held Faribault, a 119-year-old Minnesota company best known for Butter Kernel corn, S&W canned beans, Kuner's brand and a strong private-label canning business. The new owners announced that Faribault Foods will be merged with La Costena's U.S. canning affiliate, Arizona Canning, and that entity will retain the Faribault Foods name. Those merged operations will have headquarters in Minneapolis. "The current Faribault Foods' management team, employees and facilities will be retained as part of the combined company's operations," the companies said in a joint statement. "Faribault Foods now will have approximately 700 total employees, with about 550 at three plants in Faribault, Cokato and Elk River, Minnesota, and about 150 employees at a Tucson, Arizona, facility." Financial terms of the deal were not disclosed. La Costena is described as Mexico's leading producer and marketer of canned peppers, beans and vegetables. Its Arizona Canning affiliate sells under the brand names of Sun Vista, La Costena, Luck's and Totis. "We look forward to the growth opportunities that this combination will bring," Reid MacDonald, president and CEO of Faribault Foods, said in a statement. "Faribault Foods and La Costena's Arizona Canning are an excellent match. Both companies are family owned and financially strong. We believe that this partnership represents a significant opportunity for our companies, employees, customers and the communities where we do business." Tom Webb can be reached at 651-228-5428. Follow him at twitter.com/TomWebbMN. ___ (c)2014 the Pioneer Press (St. Paul, Minn.) Visit the Pioneer Press (St. Paul, Minn.) at www.twincities.com Distributed by MCT Information Services |