PepsiCo is going to sell Tropicana and other juice brands in North America to PAI Partners for $3.3 billion. The company intends to simplify its product portfolio and remove high sugar drinks from the portfolio.
The company which bought Tropicana and Naked Juice for $3.3 billion and $150 million respectively, will have 39% equity of the joint venture and have distribution right for the brands.
The CEO stated that the sale will give the company funds to invest more in health-focused snacks and zero-calorie beverages.
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