Guatemalan Giant Castillo Hermanos Acquires Harvest Hill for $1.4 Billion

Castillo Hermanos, a Guatemalan family-owned firm, acquired U.S. beverage company Harvest Hill for $1.4 billion. This acquisition was revealed by U.S. Deputy Secretary of State Christopher Landau a day after a trade agreement between the U.S. and Guatemala. Harvest Hill, established by Brynwood Partners, includes brands like SunnyD and Juicy Juice.

Guatemalan firm Castillo Hermanos has acquired U.S.-based Harvest Hill for $1.4 billion, enhancing its beverage portfolio with popular brands like SunnyD. The announcement was made by U.S. Deputy Secretary of State Christopher Landau, following a new trade agreement between the U.S. and Guatemala to eliminate tariffs on certain goods.

Castillo Hermanos revealed its acquisition plans in April. Harvest Hill, created by Brynwood Partners in 2014, began with the purchase of Juicy Juice from Nestle USA and has since expanded its lineup to include brands like Daily's Cocktails and Nutrament.

Employing thousands across six U.S. factories, Harvest Hill's new ownership under Castillo Hermanos, a company established in 1886 known for its Famosa beer, marks a significant expansion of its business interests across Central America.

(With inputs from agencies.)