PepsiCo to sell Tropicana, other juices, in $3.3B deal | Nation/World News
NEW YORK (AP) – PepsiCo will sell Tropicana and other juices to a private equity firm for $ 3.3 billion in pre-tax revenue.
As part of the deal with PAI Partners, PepsiCo will hold a non-controlling interest of 39% in a newly formed joint venture. The company also retains exclusive US distribution rights for the branded portfolio in its refrigerated direct delivery for small format and food service channels.
New York-based PepsCo Inc. also has the ability to sell certain juice businesses in Europe.
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