diff --git a/tg/util/files.py b/tg/util/files.py
index 1e3a70e1..ff4a0ccb 100644
--- a/tg/util/files.py
+++ b/tg/util/files.py
@@ -101,7 +101,7 @@ def get_dotted_filename(self, template_name, template_extension='.html'):
 
                             with open(result, 'wb') as result_f:
                                 result_f.write(f.read_bytes())
-                except ModuleNotFoundError as e:
+                except (ModuleNotFoundError, FileNotFoundError) as e:
                     raise DottedFileLocatorError(
                         "%s. Perhaps you have forgotten an __init__.py in that folder." % e
                     )