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PepsiCo to sell Tropicana and other juice brands for $3.3 billion

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Bottles of Tropicana orange juice are displayed on a shelf at a grocery store in San Rafael, California.

Justin Sullivan | Getty Images

PepsiCo announced Tuesday it has agreed to sell Tropicana, Naked and other North American juice brands to a French private equity firm.

The deal with PAI Partners will net pretax cash proceeds of $3.3 billion for Pepsi. The food and beverage giant will also receive a 39% stake in a newly formed joint venture with PAI and the exclusive U.S. distribution rights for the juice brands for certain channels, like food service.

“This joint venture with PAI enables us to realize significant upfront value, whilst providing the focus and resources necessary to drive…



Source cnbc.com

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