Harvest Hill Beverage Co. in early March signed an agreement to acquire American Beverage Corp. from Netherlands-based Wessanen for approximately $55 million. Based in Stamford, Conn., Harvest Hill was formed in June 2014 to acquire the Juicy Juice brand from Nestle USA; Brynwood Partners VII L.P. is its majority owner.
ABC makes fruit drinks, ready-to-drink alcoholic drinks and non-alcoholic cocktail mixers. The company's brands include Little Hug Fruit Barrels, Big Hug and Guzzler, in addition to Daily's alcoholic cocktail drinks and mixers. It was founded 55 years ago in Verona, Pa., as Daily Orange Juice Co., and still manufactures there and from a leased facility in Phoenix. Headquarters are in Rye Brook, N.Y.
Wessanen 20 years ago had substantial holdings in the U.S. food industry, but this divestment completes the Dutch company's exit from the U.S. and its "transformation into a pure player in healthy and sustainable food," the company says. "Our strategy is to further build our own brands such as Bjorg, Allos, Alter Eco, Bonneterre, Clipper and Zonnatura in the healthy and sustainable food market in Europe."