Milbank LLP played a pivotal role in advising Citi on a significant financial transaction amounting to $1.125 billion. This dual-track syndicated financing was structured to facilitate the acquisition of Harvest Hill, a prominent US beverage company, by Castillo Hermanos, a diversified business group based in Guatemala.
The financing comprised two main components: a $575 million term loan facility for HC Holding, S.A., which is organized in Panama, and a $550 million syndicated secured term loan “A” and revolving credit facility for CHC US Beverage LP located in Delaware. These funds were utilized to support Castillo Hermanos’ acquisition efforts.
Harvest Hill is recognized as one of the leading independent branded beverage companies in the United States. It produces and markets fruit juices and other beverages under well-known brands such as Juicy Juice, SunnyD, Little Hugs, Fruit2O, and Nutrament.
The Milbank team managing this transaction was co-led by partners and included special counsel along with associates and international attorney Ernesto de la Peña.