USA: Brynwood Partners acquires Faribault Foods beverage assets
Brynwood Partners, the investment group that owns the Juicy Juice brand, has announced that its majority-owned portfolio company Harvest Hill has acquired the beverage manufacturing assets of Faribault Foods, a producer of pulses, canned foods and snacks and part of the La Costena group.
Faribault Foods' beverage assets include a manufacturing plant in Elk River, MN, USA, which serves as the leading private label supplier and contract manufacturer of pouch products to beverage brands such as Sunny Delight, Juicy Juice and Back to Nature, among others.
Commenting on the deal, Henk Hartong, chairman and CEO of Brynwood Partners and chairman of Harvest Hill, said: "We are pleased to announce the acquisition of Faribault's beverage business. The addition of Faribault's beverage assets to Harvest Hill's existing pouch manufacturing capabilities will enable Harvest Hill to continue to expand on its growing product line in the pouch format. With several leading brands under the Brynwood Partners umbrella participating in the pouch format, including Juicy Juice Splashers, Back to Nature and Sunny Delight, we are excited to increase Harvest Hill's manufacturing flexibility by adding geographic diversity to its existing production capacity".
Harvest Hill was created by Brynwood Partners in June 2014 to acquire the Juicy Juice brand from Nestle.
Source: Brynwood Partners (via PR Newswire)