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Brynwood Partners Merges Harvest Hill Beverage with Sunny Delight.

M2 EQUITYBITES-May 23, 2017-Brynwood Partners Merges Harvest Hill Beverage with Sunny Delight


23 May 2017 - US-based private equity firm Brynwood Partners VII L.P. has completed the merger of US-based Sunny Delight Beverages Co. into Harvest Hill Beverage Company, the firm said.

Harvest Hill now has more than USD 800m in gross sales, seven manufacturing facilities with a national footprint and a portfolio of iconic brands, including Juicy Juice, SunnyD, Little HUG, Daily's, and Nutrament.

The company is headquartered in Stamford, Connecticut and will maintain an office in Cincinnati, OH.

In conjunction with the merger, Harvest Hill has announced a new executive team. Effective April 4th, John LeBoutillier was named president and chief executive officer of Harvest Hill.

With the addition of LeBoutillier and Behre, two additional executives have been named to the senior management team at Harvest Hill.

Tim Voelkerding has been named chief operating officer. Tim has been an integral part of Sunny Delight having been with the company for 13 years in various financial and executive roles. All of Harvest Hill's supply chain functions will report to Tim.

Founded in 1984 and based in Greenwich, Connecticut, Brynwood Partners is an operationally-focused private equity firm that makes control investments in North American-based lower middle market companies in the consumer sector.

Harvest Hill Beverage was formed by Brynwood Partners VII L.P. in July 2014 to acquire the Juicy Juice brand from Nestle USA, Inc.

Juicy Juice is the largest 100% juice brand in the US and is focused on the kids segment.

The company markets Juicy Juice products in single-serve and multi-serve formats to the retail and foodservice channels.

In March 2015, Harvest Hill acquired American Beverage Corp. from Wessanen, a publicly-traded food and beverage company based in Holland.

With the ABC acquisition, the company added the Little HUG juice brand and Daily's Cocktails brand. ABC's brands are distributed to a blue-chip customer base that includes leading grocery retailers, wholesalers, supercenters and foodservice distributors.

In October 2016, Harvest Hill acquired Faribault Foods, Inc.'s juice pouch manufacturing facility in Elk River, MN and selected assets.

Most recently, in December 2016, the company acquired the Nutrament energy drink brand from Nestle HealthCare Nutrition, Inc.

Sunny Delight Beverages was formed by J.W. Childs Associates in 2004 to acquire the SunnyD brand from The Procter and Gamble Co.

Brynwood VII acquired Sunny Delight in February 2016 and, in May 2017, merged the company into its portfolio company, Harvest Hill.

The 54-year-old SunnyD brand is a chilled juice drink in the US. In addition to the SunnyD brand, the company markets the Fruit2O and Veryfine beverage brands. Sunny Delight's products are widely distributed through leading retailers in the US and Canada.

Harvest Hill, which currently operates seven strategically located manufacturing facilities in the US, intends to grow its branded, private label and co-manufacturing businesses both organically and through strategic add-on acquisitions.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U1CT
Date:May 23, 2017
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