Japanese-owned Frucor says there will be few changes for staff, orchardists and distributors. Photo / Supplied
Australian private equity firm Crescent Capital Partners has sold Hawkes Bay fruit juice firm Simply Squeezed to drinks company Frucor for an undisclosed price.
In 2006 Crescent bought a 60 per cent stake in Simply Squeezed from its founder, Steve Brownlie. At the time the company had annual turnover of
more than $20 million and Brownlie retained a 40 per cent stake. It is understood Frucor has bought 100 per cent of the company.
Frucor, once a division of Enza, is owned by Japanese company Suntory, whose brands include V, Arano, Fresh Up, Just Juice, McCoy and Citrus Tree. Suntory bought it from Danone last year for $1.4 billion.
The purchase would see Simply Squeezed enter the Frucor fold with minimal changes for the staff, orchardists, and distributors, Frucor said.
Simply Squeezed will remain based in Hawkes Bay close to where it sources most of its oranges.
Frucor is seeking Commerce Commission approval for the purchase. Simply Squeezed makes Simply Squeezed, Supreme Country, Bay Harvest and Allganics drinks.
- STAFF REPORTER
