LONDON: PepsiCo Inc is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for US$3.3bil (RM13.9bil) as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks.
The US drinks giant will retain a 39% non-controlling 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.
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