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 per cent stake in the new joint venture in a deal valued at roughly $4.5 billion, the report said, citing people familiar with the matter.
The beverage giant and PAI did not immediately respond to Reuters requests for comment.
Published 03 August 2021, 10:32 IST