GREENWICH, CONN.— Multinational business group Castillo Hermanos has agreed to acquire Harvest Hill Beverage Co. from private equity firm Brynwood Partners. Harvest Hill Beverage makes Juicy Juice fruit juices and SunnyD fruit drinks.

Financial terms of the deal, announced April 3, weren’t disclosed. Harvest Hill operates six manufacturing plants across the United States, serving the grocery, mass, club and other retail channels. Its roster of brands also includes Veryfine juices; Little Hug, Big Hug and Big Burst fruit drinks; Fruit2O flavored waters; Nutrament energy nutrition drinks; Guzzler nutrition-infused fruit beverages; Daily’s cocktails and mixers; and SunnyD Vodka Seltzer.

“The Harvest Hill sale will represent the largest transaction in Brynwood Partners’ 40-year history,” said Henk Hartong III, chairman and chief executive officer of Greenwich, Conn.-based Brynwood. “We are grateful for the commitment from our limited partners and the confidence that they conveyed to us through the Harvest Hill investment period. Castillo Hermanos is a first-class company with a long family history and a passion for the beverage business. We are confident that they will continue to invest in and grow the Harvest Hill business.”

Plans call for all of Harvest Hill’s 1,000-plus employees, including the management and leadership team, to be retained following the transaction, according to Guatemala City-based Castillo Hermanos. The international conglomerate — whose businesses span beverages, beer, food, packaging, commerce and real estate — said it acquired Harvest Hill in tandem with a “significant investment” by Greenwich-based Centerview Capital, which will be a strategic partner to help grow the US beverage business.  

Brynwood and Castillo Hermanos didn’t provide a timetable for finalizing the deal, which is pending regulatory approvals and customary closing conditions.

“This is a key moment in our history as we set out to meaningfully expand our reach into the US,” said Roberto Lara, CEO of Castillo Hermanos. “Our trusted and iconic brands, combined with Harvest Hill’s, offer a compelling product assortment to cater to diverse consumer needs. We are thrilled to welcome Harvest Hill to the Castillo Hermanos family and want every one of their employees to be part of our strategy for expansion and sustained growth. We look forward to working closely with Harvest Hill’s experienced leadership team to unlock key growth opportunities, leveraging their manufacturing facilities, distribution network and understanding of the beverage category in the US.”

Castillo Hermanos sells its beverage and food products in more than 35 countries. Its brands include Gallo Beer (known as Famosa Beer in the US), Del Frutal (fruit nectar drinks) and Raptor (energy drinks), and the company describes itself as the leading cereal producer in Central America.

Besides adding key new beverage brands, the Harvest Hill acquisition stands to lower production and distribution costs — by manufacturing in the United States rather than importing — and open opportunities to bring new products to the US market, Castillo Hermanos said, citing beverage brands from its Maravilla business unit.

“We could not be more excited to build our future with Castillo Hermanos,” said Robert Mortati, president and CEO of Harvest Hill. “Founded on similar values and principles based on respect, quality, innovation, and customer and consumer centricity, Castillo Hermanos’ and Harvest Hill’s strategic visions are aligned. Together, we will be able to scale our businesses, enhancing the presence of our brands across the beverage marketplace.”

Harvest Hill was formed in July 2014 when Brynwood Partners bought the Juicy Juice brand from Nestle USA. The ensuing years saw the new beverage company grow via acquisition, including American Beverage Corp. in March 2015 from Wessanen, and Nutrament in December 2016 from Nestle. Brynwood acquired Sunny Delight Beverages Co. in February 2016 from J.W. Childs Associates and then merged it into Harvest Hill in May 2017. Castillo Hermanos noted that Harvest Hill aims to continue to grow its branded, private label and co-manufacturing businesses organically and via strategic bolt-on acquisitions.