Company: Truco Enterprises
Introduced: March 2017
Suggested Retail Price: $1.59 (2.875 oz. bag) and $3.49 (9.5 oz bag)
Product Snapshot: Truco Enterprises announced the official launch of the new On The Border Nacho Cheese and Zesty Ranch flavored tortilla chip products. The products are already available on shelves at several retailers.
"As the fastest growing national unflavored tortilla chip brand, according to IRI data for multi-outlet retail for the 52 weeks through February 9, 2017, we are excited to expand our tortilla chips into cheese and ranch flavors. These two flavors represent the largest flavored segments in tortilla chips, and the cheese and ranch segments are growing faster than the overall tortilla chip market," said Mel Deane, CEO of Truco.
As stated in the February 2017 Chips and Dips category report issued by the Mintel Group, On the Border tortilla chip sales have grown 162% in aggregate since 2011 and continue to outpace tortilla chip category growth year after year.
"This next evolution in our chip portfolio of products allows consumers to enjoy the On The Border chips they love in their favorite flavors. Additionally, we are offering these great flavors in take-home and immediate consumption package sizes, which expands the selection of offerings to our current retailers and consumers and also introduces the opportunity for consumers to find our products in the convenience channel," said Deane.
This new product launch and expansion into the convenience channel comes on the heels of industry recognitions for Truco's On The Border chips and dips. In October, Truco's products were recognized as the #2 new food products in the Top 10 Products at the National Association of Convenience (NACs) show. Of the more than 330 new and innovative products displayed at the show held in Atlanta, Truco's products were one of only three food products ranked in the Top 10 by visitors to the Preview Room. Additionally, in February, Truco was cited as a Key Player in the category in Mintel's report, which states, "Among the most successful mid-tier brands in the category is On The Border."
"We are extremely pleased with retailer reception of our On The Border Nacho Cheese and Zesty Ranch products and look forward to expanding our distribution of these new products across the grocery, convenience and mass channels in the coming months," said Tim Byrd, SVP Sales at Truco.