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Harvest Hill Beverage to buy Nestle’s Nutrament business

Published 09 December 2016

Harvest Hill Beverage has agreed to acquire Nutratment business from Nestle HealthCare Nutrition.

The companies did not disclose the financial terms of the transaction, which is expected to be closed by the end of this year.

Harvest Hill, a Stamford, Connecticut-based beverage company, was founded in 2014. It owns brands such as Juicy Juice, Little HUG and Daily's brands. The acquisition of Nutrament would be the fourth for the company and second sale for Nestle.

Nestle HealthCare Nutrition’s Nutrament is a dairy-based energy drink brand, which was founded in the 1960s. The brand is claimed to have a loyal customer-base on the US East Coast, Canada and the Caribbean Islands.

Brynwood Partners chairman and CEO Hendrik Hartong III said: "The Nutratment acquisition strengthens Harvest Hill's position in several strategically important areas. Nutratment has a strong position in certain critical urban markets that will benefit Harvest Hill's entire brand portfolio. 

“Harvest Hill will increase its scale with the brand's loyal customer base and will also acquire access to a broad export distributor network in the Caribbean."

Harvest Hill CEO Doug Gillespie said: "Nutratment is a well-known brand with loyal consumers that have, in many cases, been purchasing the brand's products since the 1960s."

Brynwood Partners president and COO Ian MacTaggart said: "We are excited to complete our seventh brand acquisition from Nestlé and we value our long-standing relationship. Brynwood Partners continues to strengthen its position as the leader in the consumer corporate acquisition sector.  

“Including this acquisition, which we expect to close by year end, the firm will have acquired 47 brands from 18 different corporate sellers."

In early November, Brynwood Partners disclosed that Harvest Hill has acquired Faribault Foods’ beverage manufacturing assets in Elk River, Minnesota, for an undisclosed amount.