GREENWICH, Conn., Nov. 1, 2016 /PRNewswire/ -- Brynwood Partners VII L.P. announced today that its majority-owned portfolio company, Harvest Hill Beverage Company, has acquired the beverage manufacturing assets of Faribault Foods, Inc. Based in Stamford, CT, Harvest Hill was formed in June 2014 to acquire the Juicy Juice brand from Nestlé USA, Inc. Terms and conditions of the transaction, which closed today, will not be disclosed.
Faribault Foods Inc.'s beverage assets include a state-of-the-art, SQF Level III-certified manufacturing plant in Elk River, MN, approximately 40 miles northwest of Minneapolis. Constructed in 2001, the plant serves as the leading private label supplier and contract manufacturer of pouch products to leading beverage brands. Its customer base includes Sunny Delight, Juicy Juice and Back to Nature, among others, which sell to a blue-chip group of grocery retailers, wholesalers and supercenters.
"We are pleased to announce the acquisition of Faribault's beverage business," said Henk Hartong, Chairman and CEO of Brynwood Partners and Chairman of Harvest Hill. "The addition of Faribault's beverage assets to Harvest Hill's existing pouch manufacturing capabilities will enable Harvest Hill to continue to expand on its growing product line in the pouch format." Mr. Hartong continued, "With several leading brands under the Brynwood Partners umbrella participating in the pouch format, including Juicy Juice Splashers, Back to Nature and Sunny Delight, we are excited to increase Harvest Hill's manufacturing flexibility by adding geographic diversity to its existing production capacity."
"We are looking forward to bringing Elk River's loyal employee base into the Harvest Hill family as we integrate our pouch manufacturing operations," said Doug Gillespie, CEO of Harvest Hill. "This acquisition enhances Harvest Hill's position as one of the largest independent manufacturers of beverage pouches in the U.S. and we are excited to continue to grow our brands in the segment."
"On behalf of Brynwood Partners, I would like to express my sincere gratitude to the Faribault Foods and Harvest Hill teams for supporting the transaction," said Ian MacTaggart, President and COO of Brynwood Partners. "This is Harvest Hill's second add-on acquisition and, with Brynwood Partners continued support, the company will continue to grow both organically and through strategic add-on acquisitions."
About Brynwood Partners:
Brynwood Partners, founded in 1984 and based in Greenwich, CT, is an operationally-focused private equity firm that makes control investments in North American-based lower middle market companies in the consumer sector.
Brynwood Partners currently manages more than $725 million of private equity capital for its limited partners, which include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.
About Harvest Hill Beverage Company:
Harvest Hill Beverage Company, based in Stamford, CT, was formed by Brynwood Partners VII L.P. in June 2014 to acquire the iconic Juicy Juice brand from Nestlé USA, Inc. Juicy Juice is the largest 100% juice brand in the U.S. focused on the kids segment. Harvest Hill currently markets Juicy Juice products in single-serve and multi-serve formats. In March 2015, Harvest Hill acquired American Beverage Corporation from Wessanen, a publicly-traded food and beverage company based in Holland. With the ABC acquisition, Harvest Hill added the Hug juice brand and Daily's Cocktails brand. The company's brands are distributed to a blue-chip customer base that includes leading grocery retailers, wholesalers, supercenters and foodservice distributors. Additionally, Daily's products are sold through foodservice distributors to bars and restaurants. The company continues to grow both organically and through strategic add-on acquisitions. For more information on Harvest Hill, please visit www.harvesthill.com.
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SOURCE Brynwood Partners