Bay juice firm signs sweet deal

The tangy tale of a Hawke's Bay fruit juice firm is about to take a new twist.
A deal signed by Simply Squeezed of Bay View and leading Australasian drinks company Frucor Beverages could see the company come under the Frucor fold - subject to Commerce Commission approval.
Steve Brownlie, who founded the company with just two staff in 1991, said he was rapt with the prospect.
"Obviously it's not a fait accompli as the Commerce Commission needs to give it the nod but, I couldn't think of a better purchaser to progress the company," he said.
The company had experienced massive growth since it squeezed its first orange almost two decades ago.
An original muster of just two staff members grew to 100 employees, with a now impressive 15 million litres of fruit juice bottled per year.
The label, which had a strong presence in the restaurant, hotel and cafe markets, was delivered across the country.
"We developed a pretty successful model early on and things have just taken off since then."
In October 2006, Mr Brownlie sold 60 per cent of the company to Australian private equity firm Crescent Capital. The National Business Review reported the deal was worth $41 million.
He stayed on as a director of the company and still claimed a 40 per cent shareholding.
The new ownership would mean "minimal" changes for staff, orchardists, suppliers and distributors. "We've got a significant upgrade planned for the plant later this year."
Frucor New Zealand chief executive Carl Bergstrom described Simply Squeezed as "a grass-roots success story".
"It's demonstrated strong growth and consistent profitability for many years despite aggressive competition, which is a real credit to them," said Mr Bergstrom, who confirmed the company would stay in Hawke's Bay.
The acquisition would see the Simply Squeezed range of Supreme, Allganics and Bay Harvest added to Frucor's beverages, which include Fresh Up, Just Juice, V, Frank and Mizone.