PAI Partners has agreed to buy Tropicana, Naked and other juice brands from PepsiCo for $3.3 billion in cash proceeds.
Pepsi will retain a non-controlling interest (39%) within a newly formed JV with PAI. The deal also includes an irrevocable option to sell certain juice businesses in Europe. PAI will be the majority shareholder of the transferred business, with PepsiCo retaining exclusive U.S. distribution rights.
This deal in the food and beverage industry is not unique for PAI, as the €15 billion ($18 billion) firm has done deals with large corporations in . . .