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Castillo Hermanos, a diversified multinational business group, has entered into a definitive agreement with Brynwood Partners to acquire Harvest Hill Beverage Company, which produces household brands such as SunnyD, Juicy Juice and Little Hug.


The deal marks a strategic move for Castillo Hermanos, a family-owned enterprise founded in 1886, as it seeks to bolster its US operations and leverage Harvest Hill’s established brand portfolio. The acquisition is supported by Centerview Capital, which is investing as a strategic partner to facilitate growth in the US beverage sector.


Juan Monge Calderón, chairman of Castillo Hermanos, said: "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."

 

Harvest Hill, formed in 2014, has rapidly established itself within the beverage industry, notably acquiring the Juicy Juice brand, which is the leading 100% juice brand targeted at children. The company has also expanded its portfolio through strategic acquisitions, including American Beverage Corporation and Sunny Delight Beverages Co.


All of Harvest Hill’s 1,000+ employees including its management and leadership teams are expected to retain their jobs as part of the transaction, becoming part of Castillo Hermanos’ 20,000+ strong workforce.

 

“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.


He continued: "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 US".

 

Robert Mortati, president and CEO of Harvest Hill, said:  “We could not be more excited to build our future with Castillo Hermanos. 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."

 

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


Financial terms have not been disclosed, and the transaction is subject to customary closing conditions and receipt of regulatory approvals.


Top image: © Harvest Hills
Castillo Hermanos to acquire Harvest Hill Beverage Company

Leah Smith

9 April 2025

Castillo Hermanos to acquire Harvest Hill Beverage Company

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