
Private equity investment firm Brynwood Partners’ majority-owned portfolio company Harvest Hill Beverage Company has acquired the beverage manufacturing assets of Faribault Foods as part of an ongoing push into the pouch juice market.
Faribault Foods’ manufacturing plant in Elk River, Minnesota is a leading private label supplier and contract manufacturer of the pouch products to beverage brands, including Sunny Delight, Juicy Juice and Back to Nature, in which Greenwich, Connecticut-based Brynwood owns stakes.
“We are excited to increase Harvest Hill’s manufacturing flexibility by adding geographic diversity to its existing production capacity,” said Henk Hartong, chairman and CEO of Brynwood Partners and chairman of Harvest Hill.
Constructed in 2001, the Faribault Foods SQF Level III-certified manufacturing plant is approximately 40 miles northwest of Minneapolis.
Harvest Hill was formed in June 2014 to acquire the Juicy Juice brand from Nestlé USA and later acquired American Beverage Corporation from Wessanen in March of 2015, adding the Hug Juice and Daily’s Cocktails brands to its line.
Brynwood Partners, founded in 1984, makes investments in North American lower mid-market companies in the consumer sector.
The firm currently manages more than $725 million of private equity capital for its limited partners, which include US and international pension funds, funds of funds, endowments, high net worth family investment offices and financial institutions.
The financial details of the acquisition were not disclosed, and the firm did not respond to requests for additional comment.