Big Law
PepsiCo Is Selling Tropicana and Naked for Over $3 Billion
PepsiCo is selling a controlling stake of its juice brands, which includes Tropicana and Naked, to a private equity firm in a multibillion dollar deal. The sale is part of the company’s broader efforts to focus on faster-growing beverages as customers increasingly ditch sugary drinks.
In the deal announced Tuesday, PepsiCo’s juice businesses in North America will be sold for roughly $3.3 billion to PAI Partners, with PepsiCo retaining a 39% stake in the newly formed business. The deal also includes the option for PepsiCo to eventually sell its European juice businesses at a later date.
PepsiCo (PEP) CEO Ramon Laguarta said in the press release that the sale will “free us to concentrate on our current portfolio of diverse offerings, including growing our portfolio of healthier snacks, zero-calorie beverages, and products like SodaStream which are focused on being better for people and the planet.”
