PepsiCo to sell Tropicana, other juice brands for $3.3 billion
PepsiCo Inc (PEP.O) will sell its controlling stake in Tropicana, Naked and other juice brands in North America to private equity firm PAI Partners for $3.3 billion, the beverage giant said on Tuesday.
1 minute readFile Photo: Pepsico's Tropicana juice is seen on display at a new Wal-Mart store in Chicago, in a January 24, 2012 file photo. REUTERS/John Gress/FilesAug 3 (Reuters) - PepsiCo Inc(PEP.O)will sell its controlling stake in Tropicana, Naked and other juice brands in North America to private equity firm PAI Partners for $3.3 billion, the beverage giant said on Tuesday.
The sale will allow PepsiCo to concentrate on growing its portfolio of health-focused snacks and zero-calorie beverages, Chief Executive Officer Ramon Laguarta said.The company will retain a 39% stake in the new joint venture and have exclusive U.S. distribution rights for the brands.
PepsiCo bought Tropicana, one of the world's most recognized juice brands in 1998 for roughly $3.3 billion and premium juice maker Naked Juice nearly a decade later for $150 million.The juice businesses made about $3 billion in net revenue in 2020 with operating profit margins that were below PepsiCo's overall operating margins, the company said. headtopics.com
Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur and Patrick GrahamOur Standards:More from ReutersSign up for our newsletterSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.Read more: Reuters Top News »
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PepsiCo had raped or destroyed company's putting countless numbers of people out of work, all for profit or to kill the competition. Usually they leave the bare bones to sell to investor groups. Not surprised. But it is a great stock to own.
WSJ News Exclusive | PepsiCo to Sell Tropicana, Naked Juice Brands to Private-Equity FirmThe snacks-and-beverage company will sell Tropicana, Naked and other juice brands in North America to private-equity firm PAI Partners, according to people familiar with the matter. Poison RIP juice, I guess.
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