PepsiCo sells Tropicana, Naked juices for $3.3 billion

By Joe Kelley

August 03, 2021 at 1:41 pm EDT

Orange Juice Giants Tropicana And Minute Maid Quietly Downsized Containers, While Keeping Price The Same 52 ounce bottles of Tropicana orange juice are displayed on a shelf at a grocery store on October 29, 2018 in San Rafael, California. With a seasonal shortage of oranges and grapefruit, U.S. based orange juice makers, including Tropicana and Minute Maid, downsized their bottles from 59 ounces to 52 ounces without lowering the price of the product. (Photo by Justin Sullivan/Getty Images)

By Joe Kelley

August 03, 2021 at 1:41 pm EDT

PepsiCo announced on Tuesday that it will be selling Tropicana and Naked juices for $3.3 billion.

The company is selling the juice brands to private equity firm PAI Partners.

PepsiCo intends to use part of the proceeds for debt reduction.

PepsiCo bought Tropicana in 1998 and Naked in 2006. Both made about $3 billion in sales in 2020.

PepsiCo to sell Tropicana and Naked juice brands to private equity for $3.3bn https://t.co/QoDwI9lyZL
— Financial Times (@FT) August 3, 2021

©2021 Cox Media Group

Joe Kelley

WDBO News Director and host the The Joe Kelley Show - weekdays from 5:00PM to 7:00PM on WDBO.

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