Talk about a juicy deal.
Talk about a juicy deal. PepsiCo is selling juices, including Tropicana, to PAI Partners for a whopping $3.3 billion, The Associated Press reported Tuesday. The Naked juice brand — which Pepsi bought in 2007 — will also be part of the sale. The company, based in New York, will maintain a 39% non-controlling stake in a new joint venture in the deal with the private equity firm. The deal, which is set to close late this year or early in 2022, “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,” PepsiCo Chairman and CEO Ramon Laguarta said Tuesday in a prepared statement.
