GREENWICH, Conn. -- Harvest Hill Beverage Co., owner of the Juicy Juice, Little Hug and Daily's drink brands, will acquire the Nutrament nutrition-drink business from Nestle HealthCare Nutrition Inc.
Nutrament is a leading brand in the dairy-based nutrition-drink segment. Available in seven flavors, the brand, which was founded in the 1960s, is primarily sold on the U.S. East Coast, Canada and the Caribbean Islands.
"The Nutrament acquisition strengthens Harvest Hill's position in several strategically important areas," said Hendrik J. Hartong III, chairman and CEO of Harvest Hill parent company 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 transaction is expected to close by year end, and its terms and condition are not being disclosed.
"We are excited to add Nutrament to Harvest Hill's portfolio and look forward to investing in the brand," said Doug Gillespie, CEO of Harvest Hill. "Nutrament is a well-known brand with loyal consumers that have, in many cases, been purchasing the brand's products since the 1960s."
This is Brynwood Partners seventh brand acquisition from Nestle. Including this acquisition, the firm will have acquired 47 brands from 18 different corporate sellers, said Ian MacTaggart, president and COO of Brynwood Partners.
Brynwood Partners, founded in 1984 and based in Greenwich, Conn., is a private equity firm that makes control investments in North American-based lower middle-market companies in the consumer sector.
Harvest Hill Beverage Co., Stamford, Conn., was formed by Brynwood Partners VII LP in July 2014 to acquire the Juicy Juice brand from Nestle USA Inc.
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