Brynwood Partners VII LP announced that its newly formed portfolio company, Harvest Hill Beverage Co., has acquired the Juicy Juice business from Nestlé USA. Terms and conditions of the transaction will not be disclosed.
Juicy Juice, an iconic 37-year-old brand, enjoys national distribution through leading retailers in the food, mass and club sectors as well as in the foodservice channel. Juicy Juice is widely recognized as one of the pioneer brands in the 100 percent juice category.
"We are delighted to announce the acquisition of the Juicy Juice business from Nestle USA," said Henk Hartong III, senior managing partner of Brynwood Partners. "We look forward to bringing renewed focus and attention to this great brand that has, and continues to hold, a special place with families over many generations. By further leveraging the brand's nutritional and wellness attributes, we plan to continue providing our loyal customers with its high quality, great tasting products in innovative packaging formats. We thank Nestlé USA for the opportunity to work with them on this transaction and look forward to a smooth transition of the business." The company, which expects to announce its management team in the coming weeks, will be based in Stamford, Conn.
Brynwood Partners has completed six acquisitions from Nestlé USA, with this acquisition being the third in the past 14 months. Last year, two transactions were completed with Nestlé USA: Brynwood Partners VII LP acquired Joseph's Gourmet Pasta Co. and Pearson Candy Co., a Brynwood Partners VI LP portfolio company, acquired the Bit-O-Honey brand. The Juicy Juice acquisition marks the Firm's largest buy side transaction since it was founded in 1984.
Brynwood Partners has a well-established track record of acquiring and reviving brands or businesses that are divested from large corporations. In its 30-year history, Brynwood Partners has acquired 41 corporate brands from 15 different corporate sellers.
Brynwood Partners has a strong investment track record in the food space with active investments, including:
- Joseph's Gourmet Pasta Co. (Brynwood VII portfolio company) a manufacturer and marketer of high-quality stuffed pasta and sauce products to the foodservice and retail channels.
- Back to Nature Foods Co. LLC (Brynwood VI portfolio company) a marketer of Back to Nature natural food products, including crackers, cookies, nuts, granolas and juices as well as the recently acquired SnackWell's healthy cookies and snacks business.
- Pearson Candy Co. (Brynwood VI portfolio company) a manufacturer and marketer of widely recognized confectionery brands, including Pearson's Salted Nut Roll, Pearson's Mint Patties, Pearson's Nut Goodies, Pearson's Bun Bar and Bit-O-Honey.
- Lightlife Foods Inc. (Brynwood VI portfolio company) a manufacturer and marketer of soy-based vegetarian burgers, hot dogs, tempeh and other refrigerated and frozen items in the meat alternative category under the Lightlife brand.
Prior investments by Brynwood Partners in the food sector include DeMet's Candy Co., Richelieu Foods Inc., Sun Country Foods Inc., Balance Bar Co., Lincoln Snacks Co. and Signature Snacks Co.