(Reuters) -Guatemalan firm Castillo Hermanos acquired U.S.-based Harvest Hill, maker of beverages such as SunnyD, for $1.4 billion, the U.S. Deputy Secretary of State Christopher Landau announced on Friday on social media. Landau made the announcement on X, a day after the U.S. and Guatemala announced a framework trade agreement to remove U.S tariffs on some foods […]
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Guatemala’s Castillo Hermanos buys US maker of SunnyD for $1.4 billion, top US official says
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(Reuters) -Guatemalan firm Castillo Hermanos acquired U.S.-based Harvest Hill, maker of beverages such as SunnyD, for $1.4 billion, the U.S. Deputy Secretary of State Christopher Landau announced on Friday on social media.
Landau made the announcement on X, a day after the U.S. and Guatemala announced a framework trade agreement to remove U.S tariffs on some foods and other imports.
Castillo Hermanos announced its plan to purchase Harvest Hill in April.
Private equity firm Brynwood Partners launched the Harvest Hill platform in 2014 with its acquisition of Juicy Juice from Nestle USA, Inc., and since then it has added eight other beverage brands, including Daily’s Cocktails and energy drink Nutrament, to the platform.
Harvest Hill employs thousands of people at six factories in the U.S., Landau said.
Founded in 1886, Castillo Hermanos is a large, family-owned company based in Guatemala. It manufactures food and beverage products such as the Famosa beer brand, and owns several other assets across Central America.
(Reporting by Diego Ore, Editing by Natalia Siniawski)