ConAgra on Tuesday announced its acquisition of sauces and dips brands Frontera's, Salpica and Red Fork.
The deal includes the packaged foods businesses of Frontera Foods — which includes the Frontera's and Salpica brands — and its sister company Red Fork.
ConAgra officials indicated that they were especially excited about the addition of Frontera's to its product lineup.
The food giant recently slashed jobs, sold off numerous businesses and relocated from Omaha to Chicago in a major overhaul designed to focus on its core brands in a tough market for packaged foods.
"In particular, the Frontera brand is a preeminent gourmet Mexican food brand in North America," said ConAgra CEO Sean Connolly. "We believe it provides a tremendous platform off which we can build."
Frontera founders Rick Bayless and Manny Valdes — who will continue to support those brands — said that ConAgra would help expand the their footprint across the U.S.
"We will continue to make high-quality food with the same standards of excellence and operate with the same values and fresh ingredients that have helped the business to become the premium brands they are today," Bayless said.
Terms of the transaction were not disclosed, and the deal does not include restaurant assets. Bayless opened his first restaurant — Frontera Grill — in Chicago in 1987.