Deals
PepsiCo to Sell Juice Brands to PAI for About $3.3 Billion
- U.S. drinks giant will use proceeds to bolster balance sheet
- Deal will help PepsiCo focus on healthier drinks and snacks
Photographer: Justin Sullivan/Getty Images
This article is for subscribers only.
PepsiCo Inc. is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for about $3.3 billion as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks.
The U.S. drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands and has also granted PAI an irrevocable option to buy certain juice businesses in Europe, according to a statement Tuesday.