Castillo Hermanos, a multinational diversified business group, has recently announced its acquisition of Harvest Hill Beverage Company in partnership with Brynwood Partners. This strategic move marks a significant expansion of Castillo Hermanos’ presence in the United States and provides a platform for the group to grow its existing U.S. business unit. The acquisition also includes a partnership with private investment firm Centerview Capital, which has made a substantial investment in the venture and will serve as a strategic partner to help grow the U.S. beverage business.
Juan Monge Calderón, chairman of Castillo Hermanos, expressed his excitement about the acquisition, stating, “In recent years, the company has been working to open itself to the world and bring to life our goal to create global brands that ensure sustained growth and continue to strengthen our leadership. This acquisition marks a milestone in our history. We welcome the leadership team of Harvest Hill that will join our team and are confident that, together, we will continue to captivate consumers and create world-renowned brands.”
With over 139 years of operating expertise and a solid track record in 35 countries, Castillo Hermanos has established itself as a leader in the beverage industry. The group’s portfolio includes well-known brands such as Gallo Beer, known as Famosa Beer in the United States. Roberto Lara, CEO of Castillo Hermanos, emphasized the strategic importance of expanding into the U.S. market, stating, “This is a key moment in our history as we set out to meaningfully expand our reach into the U.S. Our trusted and iconic brands, combined with Harvest Hill’s, offer a compelling product assortment to cater to diverse consumer needs.”
Robert Mortati, president and CEO of Harvest Hill, expressed his enthusiasm about the future partnership with Castillo Hermanos, stating, “Founded on similar values and principles based on respect, quality, innovation, and customer and consumer centricity, Castillo Hermanos’ and Harvest Hill’s strategic visions are aligned. Together, we will be able to scale our businesses, enhancing the presence of our brands across the beverage marketplace.”
The acquisition of Harvest Hill Beverage Company by Castillo Hermanos creates a compelling player in the U.S. beverage market, well-positioned to capitalize on significant opportunities in juice and beverage alcohol. The combined entity will benefit from a nationwide beverage platform, a diverse portfolio of national, iconic brands, strategically located manufacturing and distribution facilities, and strong relationships with retailers across various channels. This strategic positioning will advance Castillo Hermanos’ route to market in the U.S. and unlock key growth opportunities.
In addition to the synergies created by the acquisition, Castillo Hermanos sees potential for further value creation by expanding and introducing brands from its Maravilla business unit to the U.S. market. This strategic move will help lower production and distribution costs and enable the introduction of new brands to meet evolving consumer needs.
Overall, the acquisition of Harvest Hill Beverage Company represents a significant milestone for Castillo Hermanos as it expands its presence in the U.S. market and strengthens its position as a global leader in the beverage industry. The partnership with Brynwood Partners and Centerview Capital demonstrates Castillo Hermanos’ commitment to driving growth and innovation in the beverage market, while also creating value for consumers and shareholders alike.
