Pepsi plans to sell Tropicana and Naked juice brands for $3.3bn

The buyer, Paris-based PAI, is behind Refresco, the biggest independent bottler of beverages globally.

Tropicana orange juice. Picture: Pat Good

PepsiCo is to sell Tropicana, Naked, and other juice brands to French private equity firm PAI Partners for about $3.3bn (€2.8bn) as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks.

The US drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands, and has also granted PAI an irrevocable option to buy certain juice businesses in Europe, according to a statement.