Wessanen to sell ABC to Harvest Hill Beverage Company

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Beleggingsadvies 09/03/2015 07:36
Wessanen has signed an agreement to sell its U.S. subsidiary American Beverage Corporation (ABC) to Harvest Hill Beverage Company, a portfolio company of the U.S.-based firm Brynwood Partners VII L.P., for approximately U.S.$55 million on a cash and debt free basis and subject to working capital adjustments. The closing is expected in Q2 and is subject to certain conditions.

This divestment completes Wessanen's exit from the USA and its transformation into a pure player in healthy and sustainable food. Our strategy is to further build our own brands such as Bjorg, Allos, Alter Eco, Bonneterre, Clipper and Zonnatura in the healthy and sustainable food market in Europe.

Christophe Barnouin (CEO): "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.

About ABC
ABC is a diversified beverage company that is a leading manufacturer and marketer of fruit drinks, ready-to-drink alcoholic
drinks and non-alcoholic cocktail mixers. The company’s brands include Little Hug (single serve fruit drinks) and Daily’s
(alcoholic cocktail drinks and mixers) in the USA. In 2014, it realised revenue of €94 million and EBITDA of €7.5 million and
employed approximately 337 employees.

About Harvest Hill Beverage Company
Harvest Hill Beverage Company, based in Stamford, CT, was formed by Brynwood Partners VII L.P. in June 2014 to acquire the
iconic Juicy Juice brand from Nestlé USA, Inc. Juicy Juice is the largest 100% juice brand in the U.S. focused on the kids
segment. Harvest Hill currently markets Juicy Juice products in single-serve and multi-serve formats to the retail and
foodservice channels. The company intends to grow both organically and through strategic add-on acquisitions. For more
information on Harvest Hill, please visit www.harvesthill.com

About Brynwood Partners
Brynwood Partners, founded in 1984 and based in Greenwich, CT, is an operationally-focused private equity firm that makes
control investments in North American-based lower middle market companies in the consumer sector. Brynwood Partners
currently manages more than $725 million of private equity capital for its limited partners, which include U.S. and international
pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more
information on Brynwood Partners, please visit www.brynwoodpartners.com.

tijd 09.00
De AEX 487.11 -2,73 -0,56% de Midcap 738,84 -2,34 -0,32% de Smallcap 731,49 +1,23 +0,17% Wessanen EUR 6,05 +13ct vol 84.000



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