A Connecticut company has agreed to buy American Beverage Corp., which makes Little Hug Fruit Barrels and other products in Verona, for about $55 million.
Harvest Hill Beverage Co. of Stamford, Conn., was formed last year to buy the Juicy Juice brand from Nestle USA, according to the announcement this morning from private equity firm Brynwood Partners VII L.P. in Greenwich, Conn. Brynwood Partners is the majority owner of Harvest Hill.
The acquisition is expected to close in the first half of this year, subject to regulatory approval.
American Beverage, founded in 1960, makes Little Hug, Big Hug and Guzzler products, in addition to Daily's cocktail mixers. The 337-employee company is based in Rye Brook, N.Y., and makes products both in Verona and in Phoenix, Ariz.
The business was founded 55 years ago in Verona as Daily Orange Juice Co., according to this morning's announcement. It is owned by Wessanen.
First Published: March 9, 2015, 2:27 p.m.