GREENWICH, CONN. — Harvest Hill Beverage Co., a majority-owned portfolio company of Brynwood Partners VII L.P., has agreed to acquire the Nutrament nutrition drink business from Nestle S.A. Terms of the transaction, which is expected to close by year end, were not disclosed.
Nutrament, a dairy-based energy drink brand, will join Harvest Hill’s current portfolio of Juicy Juice, Little HUG and Daily’s brands. Nutrament beverages contain 16 grams of protein per 12-oz can and are available in seven flavors: banana, chocolate, coconut, mango, eggnog, strawberry and vanilla.
“The Nutrament acquisition strengthens Harvest Hill’s position in several strategically important areas,” said Hendrik J. Hartong III, chairman and chief executive officer of Brynwood Partners. “Nutrament has a strong position in certain critical urban markets that will benefit Harvest Hill’s entire brand portfolio. Harvest Hill will increase its scale with the brand’s loyal customer base and will also acquire access to a broad export distributor network in the Caribbean.”
The Nutrament transaction marks Harvest Hill’s fourth acquisition since its founding in July 2014 and its second from Nestle. The company acquired the Juicy Juice brand from Nestle in July 2014, the American Beverage Corp. from Wessanen in March 2015 and the beverage manufacturing assets of Faribault Foods, Inc. in November 2016.
