Castillo Hermanos to acquire Harvest Hill Beverage Co. in US$1.5B deal
The Guatemalan conglomerate strengthens its U.S. presence with the acquisition of Harvest Hill, owner of SunnyD, Juicy Juice, and Little Hug.
USA – Guatemalan conglomerate Castillo Hermanos is set to acquire Harvest Hill Beverage Co. from private equity firm Brynwood Partners for approximately US$1.5 billion, The Wall Street Journal reported.
The deal includes popular beverage brands such as SunnyD, Juicy Juice, and Little Hug.
The acquisition will significantly expand Castillo Hermanos’ footprint in the U.S. and provide a platform for growing its American operations.
Harvest Hill, based in Stamford, Connecticut, operates multiple manufacturing facilities across the country.
This acquisition allows Castillo Hermanos to bypass tariffs and introduce its products directly to U.S. consumers by utilizing Harvest Hill’s existing production infrastructure.
Founded in 1886, Castillo Hermanos is a family-owned company that produces food and beverage products, including the well-known Famosa beer brand.
It holds multiple business assets across Central America. The purchase of Harvest Hill marks a major step in its international growth strategy.
“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.
Brynwood Partners initially established Harvest Hill in 2014 by acquiring Juicy Juice from Nestlé USA, Inc. Since then, the company has expanded its portfolio with eight additional beverage brands, including Daily’s Cocktails and energy drink Nutrament.
Harvest Hill has become a key player in the U.S. beverage industry, strengthening its market presence through its diverse offerings.
Castillo Hermanos is partnering with Centerview Capital, a U.S.-based consumer investment firm, to finalize the transaction.
Centerview Capital, founded in 2006 by former Procter & Gamble executive Jim Kilts, will support Castillo Hermanos in the deal, with Castillo Hermanos maintaining majority ownership of Harvest Hill.
The transaction is subject to regulatory approvals and standard closing conditions.
While financial terms were not disclosed, the deal aligns with a broader trend of Latin American firms acquiring U.S. food and beverage companies.
In 2023, Bia Foods, the investment arm of Guatemala’s Grupo Mariposa, partnered with BDT & MSD Partners to acquire U.S.-based Badia Spices for US$1.2 billion.
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