Brynwood Partners has acquired the 37-year old Juicy Juice brand from Nestle USA using proceeds from Fund VII, according to a statement.
Terms of the deal were not disclosed, but the firm did say that the Juicy Juice deal marks its largest buy side transaction since it was founded in 1984.
This is Brynwood’s sixth acquisition from Nestle USA and the third completed within the last 14 months. Last year, Fund VII acquired Joseph’s Gourmet Pasta and the Bit-O-Honey brand.
Brynwood held its first and final close for Fund VII on $400 million in September 2013. The fund was then the largest it had raised to date, PEI reported at the time.
The middle market buyout firm currently has an active investment in several other food companies including Back to Nature Foods, which subsequently acquired Snackwell in 2013. Brynwood is also invested in Lightlife Foods, held in Fund VI. Prior investments include Balance Bar Company, DeMet’s Candy Company and Richelieu Foods.
The Harvest Hill Beverage Company, Brynwood’s portfolio company that now runs Juicy Juice, is currently finalizing its management team, and will be based in Stamford, Connecticut.