PepsiCo to sell Tropicana, other juice brands for $3.3 billion

unveiled a $3.3-billion sale of its Tropicana and other juice brands in North America to French private equity firm PAI Partners on Tuesday, August 3, as it looks to simplify its product range and move away from high-sugar drinks.

The sale will give PepsiCo the funds to develop and grow its portfolio of health-focused snacks and zero-calorie beverages, chief executive officer Ramon Laguarta said, as the company focuses on more profitable brands. "Companies are finding it difficult to provide effective marketing support behind an infinite number of brands that often compete for very similar occasions," Rabobank Food and Beverage analyst Stephen Rannekleiv said in May.The juice businesses made about $3 billion in net revenue in 2020 for PepsiCo, with operating profit margins that were below the group's.

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Probe of unpaid claims from PhilHealth eyedICYMI: The Duterte administration has paid only about P6.3 billion of the P28 billion that several private hospitals claim PhilHealth owed them since 2020 and senators are readying another investigation of the state health insurance firm to find out why.
Source: inquirerdotnet - 🏆 3. / 86 Read more »