PepsiCo to Sell Tropicana, Naked Juice Brands to Private-Equity Firm

The Wall Street Journal2021-08-03

PAI Partners to pay $3.3 billion for a controlling stake in juice business. Pepsi. plans to sell the Tropicana orange juice brand to a private-equity firm, parting ways with one of its most famous ...

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Comments

LongZR
2021-08-03
LongZR
Nice
- LongZR:
  nice
- Feralslash:
  Like please Thanks
FloatingRock
2021-08-03
FloatingRock
Good
- Moola:
  Ok can
angelA
2021-08-03
angelA
gd
Ahoon
2021-08-03
Ahoon
Nice
GG21
2021-08-03
GG21
interesting
- Annie_ann29:
  Yes
- Jefflim:
  I
- ZPhyruz:
  Yes!
June_C
2021-08-03
June_C
Cola cola
- lynnnn:
  [微笑]

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Chief Executive Ramon Laguarta, who assumed the post in 2018, has been under pressure from investors and analysts to improve the company’s margins, particularly in its North America beverage business.\nPepsiCo, which gets more revenue from its snacks and food business than from drinks, has been trying to pivot toward faster-growing products. Last year, it agreed tobuy Rockstar Energy Beveragesfor $3.85 billion to expand in the fast-growing energy-drink category.\nTropicana, which PepsiCo agreed to buyfrom Seagram Co. for $3.3 billion in 1998, remains the top refrigerated orange-juice brand in the U.S, followed by Coca-Cola’s Simply Orange.\nCoca-Cola and PepsiCo, which also owns Frito-Lay and Quaker Oats, have expanded their offerings over the past decade in categories such as tea, coffee, sports drinks and protein shakes. Last year, pushed by the pandemic,Coca-Cola discontinued many underperforming brandsincluding its Odwalla juice and smoothie business.\nTropicana was founded in Florida in 1947 byAnthony Rossi, an immigrantwho had arrived from Sicily at age 21 with $25 and a few words of English, according to an obituary in what is now known as the Tampa Bay Times. He developed flash pasteurization and pioneered orange juice transport by train from Florida to New York in 1970, according to PepsiCo. Mr. Rossi died in 2005.\nBy the time PepsiCo bought the business, it was the market leader, with nearly 40% of the chilled orange juice market in the U.S. and $2 billion in annual sales.\nPepsiCo agreed to buy Naked Juice Co. in 2006 in an earlier push to diversify away from its namesake soda.\nPepsiCo is to retain exclusive U.S. distribution rights to the juice brands as part of the deal with PAI, which also includes an option to sell certain businesses in Europe.\nPepsiCo plans to use the proceeds from the deal to augment its balance sheet and invest in its business, the people familiar with the matter said.\nPAI, with offices in Paris and elsewhere and the equivalent of $17.5 billion in assets, is known for investing in well-known consumer 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