Brynwood Partners Sells Harvest Hill Beverage to Castillo Hermanos
Brynwood Partners Sells Harvest Hill Beverage Company
Brynwood Partners has announced a significant step in its business strategy by entering into an agreement to sell Harvest Hill Beverage Company to Castillo Hermanos, a prominent multinational business group. This strategic transaction is a testament to Brynwood Partners' 40-year history in private equity, marking the largest single deal in the firm's timeline.
Understanding Harvest Hill Beverage Company
Harvest Hill has been a resilient player in the beverage market since its establishment in 2014. During this period, Brynwood acquired the famous Juicy Juice brand from Nestlé USA and has since built a portfolio that includes several well-known brands. Through adept management and strategic acquisitions, Harvest Hill has strengthened its position in the beverage industry by absorbing iconic brands like SunnyD, Little Hugs, and Nutrament. The company has also ventured into the adult beverage market with products like Daily's and SunnyD Vodka Seltzer.
Some Notable Acquisitions
Throughout its operational journey, Harvest Hill has successfully incorporated several important brands under its umbrella. In 2015, the company acquired American Beverage Corporation and followed up with the purchase of Sunny Delight Beverages Co. in 2016. Moreover, that same year, it also added Nutrament to its product offerings, demonstrating its capability to increase market share significantly. These strategic moves have not only diversified Harvest Hill’s product portfolio but have also contributed to its strong market presence.
The Impact of This Acquisition
The acquisition by Castillo Hermanos will expand the company's footprint in the U.S. market, affording it the opportunity to increase its existing beverage business unit. Founded in 1886, Castillo Hermanos has a long-standing history and proven track record in the beverage industry. Partnering with Centerview Capital will further solidify Castillo Hermanos' aspirations to enhance its operations in the U.S. beverage market.
Leadership Perspectives
Henk Hartong III, Chairman and CEO of Brynwood Partners, expressed both enthusiasm and nostalgia regarding the transaction. He noted that while the sale marks a new chapter for Harvest Hill, it also represents a bittersweet moment for those who have been a part of its journey. Hartong emphasized the value of the brands that have been cultivated under Brynwood's stewardship and the exciting future that awaits under new ownership.
Brynwood Partners and Its Operations
Brynwood Partners specializes in operationally driven investments within the middle market sector throughout North America. Since its inception, the firm has focused on non-core brands, managing over $1.3 billion in private equity capital. Brynwood IX, the latest investment fund, has made a significant mark on the market with several notable investments, showcasing the firm's continued commitment to growth and innovation.
About Castillo Hermanos
With an extensive history nearing 140 years, Castillo Hermanos has carved out a significant presence in over 30 countries, showcasing its impressive portfolio. The company's unwavering commitment to delivering high-quality products and innovative solutions in beverages, food, and real estate has established it as a leader across various sectors. Castillo Hermanos embodies a tradition of excellence, focusing on sustainability and community well-being.
Frequently Asked Questions
What has Brynwood Partners achieved recently?
Brynwood Partners has finalized the sale of Harvest Hill Beverage Company, marking a significant transaction in its history.
What brands does Harvest Hill own?
Harvest Hill's portfolio includes notable brands such as Juicy Juice, SunnyD, and Nutrament, among others.
Who is the new owner of Harvest Hill?
Castillo Hermanos, a multinational diversified business group, is the new owner of Harvest Hill Beverage Company.
How long has Castillo Hermanos been in business?
Castillo Hermanos has over 139 years of history in various industries, including beverages and food production.
What is Brynwood Partners' primary focus?
Brynwood Partners focuses on middle market investments, specifically targeting non-core brands in the consumer sector.
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