The Guatemalan company Castillo Hermanos acquired the American company Harvest Hill Beverage, a manufacturer of emblematic beverages in the United States such as Juicy Juice or SunnyDfor $1.4 billion, US Undersecretary of State Christopher Landau reported on Friday.
Landau made the announcement a day after the United States and Guatemala announced a framework trade agreement to eliminate U.S. tariffs on some food and other imports.
Castillo Hermanos announced its plan to acquire Harvest Hill in April.
Private equity firm Brynwood Partners launched the Harvest Hill platform in 2014 with the acquisition of Juicy Juice to Nestlé USA, Inc. and has since added eight other beverage brands, including Daily’s Cocktails and energy drink Nutrament.
Harvest Hill employs thousands of people at six factories in the United States, according to Landau.
Founded in 1886, Castillo Hermanos is a large family business based in Guatemala. It manufactures food and beverage products, such as Famosa beer, and owns several other assets in Central America.
