Cola’s rival Pepsi has sold a substantial portion of its shares in the Tropicana and Naked brands for billions. The group already has a plan for a huge amount: becoming healthier and more sustainable.
US beverage group PepsiCo is selling a majority stake in juice brand Tropicana and smoothie brand Naked for $3.3 billion (2.8 billion euros). PepsiCo on Tuesday announced that the buyer of 61 percent is French investment fund PAI Partners.
According to the company, it intends to invest a portion of the proceeds in “healthy snacks, zero-calorie drinks and products like SodaStream that focus on being better for people and the planet”.
Juice sales $3 billion in 2020
PAI Partners also has the option of buying additional juice brands in Europe. Pepsi bought soda maker SodaStream in 2018 for $3.2 billion. Tropicana has been owned by the group since 1998, and naked since 2007.
PepsiCo’s juice sales totaled nearly $3 billion last year, but profit margins weren’t as high as other beverages. PAI has held a 50 percent stake in yogurt brand Yoplait since the early 2000s.
Connor Beaumont is a contributor to CA News Ottawa, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that shape their communities. His work highlights relevant stories, emerging trends, and important issues, presenting them in a balanced, accessible, and reader-friendly manner.
