Pepsico sells Tropicana

Pepsico wants to sell the majority of its juice business, including premium brand Tropicana.

Juices have been loosing what the industry calls “share of throat”. Coke became the no. 1 breakfast beverage a while ago, and energy drinks have been a source of sugar all day.

Along with smoothies, coconut water, soy drinks, and recently oat drinks, the premium non-alcoholic beverage category is very competitive.

Tropicana, like Hitchcock a chilled juice not from concentrate, is facing tough competition.

The buyer is PAI Partners, the private equity company formerly of Paribas. For PAI Partners the purchase is a bolt on, it owns Refresco. Refresco calls itself the largest independent bottler, and purchased itself various German brands recently.

Pepsico will retain 39% of the business it sells.