PepsiCo will sell Tropicana and other juices to a private equity firm in a $3.3 billion deal. The New York drink and snack company will keep a 39% non-controlling stake in a newly formed joint venture in the deal with PAI Partners. Juice sales began to decline significantly in the early 2000s when low-carb diets grew in popularity, and that trend has continued with more families choosing instead to buy waters, sports drinks or other no- or low-calorie drinks. In its annual report, Pepsi said falling juice sales offset gains for other products in North America, including water, sports drinks like Gatorade and energy drinks like Propel.
PepsiCo to sell Tropicana, other juices, in $3.3B deal
