Sector News

Categories

Borderless Insights

Image
Negotiating Terms with a New Employer
Image
Beyond Flowers and Platitudes: Reclaiming the Essence of International Women’s Day
Image
Visionary or ‘Stuck-in-the-Mud’? Where are you on Workplace Flexibility?

Wessanen to Sell Little Hugs Drink Maker for $55 Million

March 9, 2015
Consumer Packaged Goods
The Dutch food producer Wessanen said on Monday that it had agreed to sell the maker of Little Hugs, the brightly colored fruit drinks in barrel-shaped bottles, to the buyout firm Brynwood Partners for about $55 million.
 
The acquisition of the maker, American Beverage Corporation, gives Brynwood, a private equity firm based in Greenwich, Conn., another well-known brand in the United States. Brynwood agreed to acquire the Juicy Juice brand of fruit drinks from the food giant Nestlé in July.
 
The deal completes Wessanen’s exit from the United States, as it focuses on the manufacturing and sale of healthy and sustainable foods.
 
Christophe Barnouin, the Wessanen chief executive, said it was the “right moment” for the sale of American Beverage Corporation.
 
“It is our final step in becoming a focused player in healthy and sustainable food in Europe,” Mr. Barnouin said in a news release. “This is also what we are and what we stand for: making food that is good for people and our planet by focusing on organic, fair trade, vegetarian and good nutrition.”
 
The sale is expected to close in the second quarter.
 
Founded in 1960, American Beverage Corporation, based in Verona, Pa., makes Little Hugs and Daily’s frozen cocktail mixes.
 
The company had revenue of 94 million euros, or about $102 million, in 2014 and has about 337 employees.
 
Founded in 1984, Brynwood has more than $725 million in assets under management.
 
By Chad Braymarch
 

comments closed

Related News

April 26, 2024

Haleon names new Finance Chief and new CHRO

Consumer Packaged Goods

Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.

Read more
April 26, 2024

Campari to double Aperol production capacity with €75m investment

Consumer Packaged Goods

The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.

Read more
April 26, 2024

Coca-Cola enters $1.1bn strategic partnership with Microsoft

Consumer Packaged Goods

The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.

Read more
More news

How can we help you?

We're easy to reach