Castillo Hermanos to Acquire Harvest Hill Beverage Company, Owner of Brands such as SunnyD®, Juicy Juice® and Little HUG®

Centerview Capital Invests as Strategic Partner, Helping Build U.S. Beverage Business

GUATEMALA CITY, April 3, 2025 /PRNewswire/ -- Castillo Hermanos, a multinational diversified business group, today announced it has entered into a definitive agreement with Brynwood Partners to acquire Harvest Hill Beverage Company, a leading beverage products player in the United States, with brands such as SunnyD^®, Juicy Juice^® and Little HUG^®.

The acquisition of Harvest Hill by Castillo Hermanos, a family-owned company founded in 1886, significantly expands its U.S. presence and provides a platform to grow its existing U.S. business unit. Castillo Hermanos is partnering with private investment firm Centerview Capital, which has provided a significant investment and will be a strategic partner to help grow the U.S. beverage business.

With over 139 years of operating expertise, Castillo Hermanos has a solid track record in over 35 countries, where it continues to captivate consumers across its brands, including Gallo Beer (known as Famosa Beer in the U.S.) as well as Del Frutal and Raptor Energy Drink. It is also the leading cereal producer in Central America.

Juan Monge Calderón, Chairman of Castillo Hermanos, stated, "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."

"This is a key moment in our history as we set out to meaningfully expand our reach into the U.S. Our trusted and iconic brands, combined with Harvest Hill's, offer a compelling product assortment to cater to diverse consumer needs," said Roberto Lara, CEO of Castillo Hermanos."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 U.S."

"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."

Reflecting on the transaction, Jim Kilts, Founding Partner of Centerview Capital, added, "We've been impressed by Castillo Hermanos' business execution and brand portfolio and Harvest Hill's commercial and operational success. Both companies have proven track records of acquiring and integrating assets and our investment underscores the potential of this transaction."

The transaction will create a compelling player that is well-positioned to capitalize on the significant U.S. juice and alcoholic beverage opportunities.

Harvest Hill's nationwide beverage platform and diverse portfolio of national, iconic brands, along with its strategically located manufacturing and distribution footprint, and deep relationships with retailers across grocery, mass, club and other channels, will advance Castillo Hermanos' U.S. route to market. In addition to the complementary strengths presented by this transaction, Castillo Hermanos can execute other key value levers, including expanding and introducing beverage brands from its Maravilla business unit (http://www.esdemaravilla.com/web/) to the U.S., lowering production and distribution costs by manufacturing in the U.S. as opposed to importing, and potentially introducing new brands to the U.S. market.

Castillo Hermanos and Harvest Hill both recognize the importance of talent and are committed to putting people first. 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, joining Castillo Hermanos' 20,000+ employee base.

Citi is serving as financial advisor to Castillo Hermanos and is lead arranger and bookrunner on the acquisition financing. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Castillo Hermanos.

Terms were not disclosed. The transaction is subject to customary closing conditions and receipt of regulatory approvals.

About Castillo Hermanos

Castillo Hermanos is a multinational diversified business group with over 139 years of success. Driven by a commitment to combine innovation and passion to share and celebrate life's moments with its consumers, while also fostering well-being and sustainable development, the company has presence in over 35 countries. Its portfolio, which includes more than 75 brands, has captivated consumers of all ages and preferences. Thanks to its strategic expansion, Castillo Hermanos' leadership extends across a wide range of industries, including beer, bottled water, carbonated and non-carbonated beverages, food, packaging, retail, and real estate. The company's history began in 1886 with the founding of Cervecería Centro Americana, born from the vision of two entrepreneurial brothers: Mariano and Rafael Castillo Córdova.

Castillo Hermanos has steadfastly adhered to a principle that has stood for over 139 years: delivering the highest quality products, leveraging cutting-edge technology, and building a team of exceptionally skilled professionals grounded in strong ethical values. Driven by an unwavering commitment to excellence, the company upholds the highest standards in quality, innovation, and talent and also inspires every member to surpass expectations. This enduring dedication extends to fostering sustainable leadership and creating shared value for the communities and society at large, working together to shape a better future.

For more information on Castillo Hermanos, please visit:

https://castillohermanos.global/
http://www.esdemaravilla.com/web/ 

About Harvest Hill Beverage Company

Harvest Hill, based in Stamford, CT, was formed by Brynwood VII in July 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 kid's segment. The company markets Juicy Juice® products in single-serve and multi-serve formats to the retail and foodservice channels. In March 2015, Harvest Hill acquired American Beverage Corporation ("ABC") from Wessanen, a publicly-traded food and beverage company based in Holland. With the ABC acquisition, the company added the Little HUG® juice brand and Daily's Cocktails® brand. ABC's brands are distributed to a blue-chip customer base that includes leading grocery retailers, wholesalers, supercenters and foodservice distributors. In December 2016, the company acquired the Nutrament® energy drink brand from Nestlé HealthCare Nutrition, Inc. Most recently, Brynwood VII acquired Sunny Delight Beverages Co. ("Sunny Delight") from a private equity firm in February 2016 and, in May 2017, merged it into Harvest Hill. The 62-year-old SunnyD® brand is a leading chilled juice drink in the U.S. In addition to the SunnyD® brand, the company markets the Fruit2O®, Veryfine®, Big Burst® and Guzzler® beverage brands. Sunny Delight's products are widely distributed through leading retailers in the U.S. and Canada.

Harvest Hill, which currently operates six manufacturing facilities strategically located across the U.S., intends to continue to grow its branded, private label and co-manufacturing businesses both organically and through strategic add-on acquisitions.

For more information on Harvest Hill, please visit www.harvesthill.com.

About Centerview Capital

Centerview Capital is an operationally-driven investment platform focused on the U.S. consumer sector. Its principals have collectively delivered ~$50 billion of shareholder value over the course of their careers and have helped build or revitalize some of the most recognized brands in the consumer industry. The firm was founded in 2006 and is based in Naples, FL.

More information about Centerview Capital is available at https://www.centerviewcapital.com/consumer/

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SOURCE Castillo Hermanos