Castillo Hermanos, a multinational diversified business group, announced it has entered into a definitive agreement with Brynwood Partners to acquire Harvest Hill Beverage Company, the maker of SunnyD, Juicy Juice, and Little HUG. Terms were not disclosed, and the transaction is subject to customary closing conditions and receipt of regulatory approvals. All of Harvest Hill's 1,000+ employees, including the management and leadership team, are expected to retain their jobs as part of the transaction.
The acquisition is expected to significantly expand the U.S. presence of Castillo Hermanos and provide a platform to grow its existing U.S. business unit. Castillo Hermanos, which currently owns such brands as Famosa Beer, Del Frutal, and Raptor Energy Drink, is partnering with private investment firm Centerview Capital.
Juan Monge Calderón, Chairman of Castillo Hermanos, says, "In recent years, the company has been working to open itself to the world and bring to life our goal to create global brands that ensure sustained growth and continue to strengthen our leadership. This acquisition marks a milestone in our history. We welcome the leadership team of Harvest Hill that will join our team and are confident that, together, we will continue to captivate consumers and create world-renowned brands."
"We could not be more excited to build our future with Castillo Hermanos," says 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."
