Pepsico announces portfolio optimization actions for juice businesses in north america and europe

Purchase, n.y., aug. 3, 2021 /prnewswire/ -- pepsico, inc. (nasdaq: pep) today announced that it has entered into an agreement with pai partners (pai) to sell tropicana, naked and other select juice brands across north america, and an irrevocable option to sell certain juice businesses in europe, which will result in combined pre-tax cash proceeds of approximately $3.3 billion while retaining a 39% non-controlling interest in a newly formed joint venture.
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