Guatemalan conglomerate Castillo Hermanos has agreed to acquire Harvest Hill Beverage Company, the U.S. manufacturer of popular beverage brands such as SunnyD, Juicy Juice, and Daily’s Cocktails, in a transaction valued at approximately $1.5 billion, including debt, according to sources familiar with the matter, Reuters reported.
The deal, expected to be announced shortly, marks a strategic expansion for the family-owned Central American group, enabling it to diversify beyond its traditional markets and establish a direct manufacturing presence in the United States. The transaction also positions Castillo Hermanos to bypass recently imposed U.S. trade tariffs affecting several Latin American countries.
Founded in 1886, Castillo Hermanos is one of the largest privately held conglomerates in Central America, with a diversified portfolio of beverage, food, and industrial assets. The company is best known for its flagship beer brand Famosa, as well as various operations throughout the region.
Harvest Hill was created in 2014 by Brynwood Partners, a Connecticut-based private equity firm, with its initial acquisition of Juicy Juice from Nestlé USA. Since then, the platform has expanded to include a portfolio of nine brands, such as Nutrament and Little Hug, and has built a significant manufacturing footprint across the U.S., including multiple production facilities.
In this acquisition, Castillo Hermanos is partnering with Centerview Capital, a U.S. consumer-focused investment firm co-founded by former Procter & Gamble executive Jim Kilts. Centerview brings deep expertise in consumer goods and has participated in numerous high-profile transactions in the sector.
Citigroup served as the sole financial advisor to the buyer consortium and also led the financing package that supported the acquisition. Representatives from Brynwood Partners, Centerview Capital, Harvest Hill, and Citi declined to comment, while Castillo Hermanos could not be immediately reached.
The acquisition is part of a broader trend of Latin American firms investing in the U.S. consumer sector. In a similar deal last year, Grupo Mariposa’s investment arm Bia Foods partnered with BDT & MSD Partners to acquire Badia Spices, a U.S.-based spice manufacturer, for approximately $1.2 billion.
Castillo Hermanos’ purchase of Harvest Hill is expected to provide a launchpad for the Guatemalan group’s products in the U.S. market. With manufacturing capabilities now located domestically, the company could mitigate exposure to protectionist trade measures, including the 25% tariffs already imposed on Mexican goods and other potential levies targeting Latin American exporters under the current U.S. administration.
This acquisition underscores a growing appetite among Latin American conglomerates to globalize their operations by leveraging U.S. infrastructure and partnerships with strategic investors.
