PepsiCo to sell majority stake in juice business for $3.3 billion – WSJ

File Photo: Pepsico’s Tropicana juice is seen on display at a new Wal-Mart store in Chicago, in a January 24, 2012 file photo. REUTERS/John Gress/Files

(Reuters) – PepsiCo Inc will sell its controlling stake in Tropicana, Naked and other juice brands in North America to private equity firm PAI Partners for $3.3 billion, the Wall Street Journal reported on Tuesday.

It will retain a 39% stake in the new joint venture in a deal valued at roughly $4.5 billion, the report here said, citing people familiar with the matter.

The beverage giant and PAI did not immediately respond to Reuters requests for comment.

Source: Read Full Article