Wessanen Completes US Exit
Dutch food group Wessanen has agreed to sell its US subsidiary, American Beverage Corporation, for $55 million to Harvest Hill Beverage Company, a portfolio company of the US-based private equity firm Brynwood Partners. The deal is expected to close during the first half of 2015.
Harvest Hill was formed in June 2014 to acquire the Juicy Juice brand from Nestle USA.
The divestment completes Wessanen’s exit from the USA and its transformation into a pure player in healthy and sustainable food. Wessanen’s strategy is to further build its own brands such as Bjorg, Allos, Alter Eco, Bonneterre, Clipper and Zonnatura in the healthy and sustainable food market in Europe.
Christophe Barnouin, chief executive of Wessanen, says: “This year, we are celebrating that our company is existing for 250 years. For us, the divestment of ABC therefore feels to come at the right moment. It is our final step in becoming a focused player in healthy and sustainable food in Europe. 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.”
