Brynwood Partners has agreed to sell its portfolio company Harvest Hill Beverage Company — maker of SunnyD and Juicy Juice — to Guatemalan industrial group Castillo Hermanos in a transaction valued at approximately $1.5bn, including debt, according to Reuters.

The deal marks a significant cross-border exit for Brynwood, a US private equity firm specialising in lower middle market consumer assets. Harvest Hill was formed in 2014 when Brynwood carved out Juicy Juice from Nestlé USA, and has since grown into a leading North American beverage platform. Over the past decade, Brynwood executed a buy-and-build strategy, acquiring eight additional brands including Daily’s Cocktails, Nutrament, Little Hug, and SunnyD, which it purchased from Suntory in 2017.

With its headquarters in Stamford, Connecticut, and a nationwide manufacturing footprint, Harvest Hill provides Castillo Hermanos with immediate scale in the US. The acquisition is expected to support the conglomerate’s plans to enter the American market and expand distribution of its Famosa-branded beverages.

US-based Centerview Capital, founded by former Gillette CEO Jim Kilts, is joining as a minority partner in the transaction. Citi served as sole financial advisor to the buyer group and led the financing.

Brynwood Partners, based in Greenwich, Connecticut, currently manages more than $1bn in committed capital.