Dive Brief:
- McCormick & Company, Incorporated announced its acquisition of 100% of Brand Aromatics shares, a New Jersey-based "supplier of natural savory flavors, marinades, and broth and stock concentrates to the packaged food industry," according to a press release.
- Brand Aromatics saw $28 million for 2014 annual sales with the expectation of mid-single digit growth, and McCormick completed the acquisition for about $63 million in cash.
- Harvest Hill Beverage Company, owner of the Juicy Juice drinks brand, signed an about $55 million definitive purchase agreement for the acquisition of American Beverage Corporation, "a leading manufacturer and marketer of fruit drinks, ready-to-drink alcoholic drinks and non-alcoholic cocktail mixers," according to a press release.
Dive Insight:
Henk Hartong, chairman and CEO of Brynwood Partners (which is Harvest Hill's owner) and chairman of Harvest Hill, said of the ABC acquisition, "The Little Hug brand provides Harvest Hill with an entry into the sizeable juice drink category. The addition of Little Hug to our retail juice portfolio enables Harvest Hill to participate in all segments of the juice aisle, strengthening our position with our retail partners. We are also excited about the company's Verona, PA and Phoenix, AZ manufacturing facilities as they will provide Harvest Hill with additional production flexibility."
As for McCormick, it recently entered into an agreement to acquire Drogheria & Alimentari (D&A), an Italian company, forecast to close in May pending regulatory OK.