Private equity firm Arbor Investments has completed the sale of its Fund I portfolio company Truco Enterprises, a producer of tortilla chips, salsa and queso, to Insignia Capital Group for an undisclosed amount.
Truco, which was founded in 1991 by David Silver and Roy Truitt, develops and markets tortilla chips, salsa and queso under the On The Border brand.
Truco's products are sold nationally through grocery retailers, club stores and mass merchandisers.
In 2004, Arbor acquired a controlling stake in Truco and partnered with Silver to expand the On the Border retail product line.
Arbor Investments president and co-founder Joseph Campolo said the partnership with Truco has been rewarding and extraordinarily successful.
"Dave Silver, one of the original members of the founding group of the Dockers® Division, is one of the finest visionary entrepreneurs and team builders we have ever been in business with," Campolo added.
