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PepsiCo to Sell Juice Brands to PAI for About $3.3 Billion

  • U.S. drinks giant will use proceeds to bolster balance sheet
  • Deal will help PepsiCo focus on healthier drinks and snacks
Orange Juice Giants Tropicana And Minute Maid Quietly Downsized Containers, While Keeping Price The Same

Photographer: Justin Sullivan/Getty Images

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PepsiCo Inc. is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for about $3.3 billion as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks.

The U.S. drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands and has also granted PAI an irrevocable option to buy certain juice businesses in Europe, according to a statement Tuesday.