PAI Partners to Acquire Tropicana, Naked and Select Juice Brands from PepsiCo
August 3, 2021
PAI Partners has agreed to acquire Tropicana, Naked and other select North American juice brands from PepsiCo in a deal that will create a joint venture in which PAI is the majority shareholder and PepsiCo retains a 39% non-controlling interest. The transaction, expected to close in late 2021 or early 2022 for approximately $3.3 billion in combined pre-tax cash proceeds, transfers a juice business that generated about $3 billion in 2020 net revenue and preserves PepsiCo's exclusive U.S. chilled distribution rights for certain channels.
- Buyers
- PAI Partners
- Targets
- Tropicana (and associated juice brands including Naked)
- Sellers
- PepsiCo
- Industry
- Food & Beverage
- Location
- Illinois, United States
- Transaction Type
- Divestiture
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