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PepsiCo’s share price rises after a $ 3.3 billion deal to sell juice brands such as Tropicana and Naked

PepsiCo Inc.Stocks
PEP,
-0.40%

Beverages and snacks rose 1.0% in pre-market transactions on Tuesday after announcing an agreement to sell Tropicana, Naked and other juice brands to PAI partners for $ 3.3 billion in cash across North America. The transaction includes the option to sell a particular juice business in Europe. PepsiCo said it will hold a 39% stake in the newly established joint venture and retain exclusive US marketing rights for the brand. Ramon Laguarta, PepsiCo’s Chief Executive Officer, said: “In addition, to the current portfolio of diverse products, including healthier snacks, zero-calorie beverages, and expanding our portfolio of products like SodaStream, which focuses on better things for people and the planet. You can focus. ”According to Pepsico, the juice business in this transaction generated about $ 3 billion in revenue in 2020, but its operating margin was below the overall operating margin. Year-to-date stock prices rose 5.4% until Monday for the S & P 500.
SPX,
-0.18%

It is 16.8% ahead.

PepsiCo’s share price rises after a $ 3.3 billion deal to sell juice brands such as Tropicana and Naked

Source link PepsiCo’s share price rises after a $ 3.3 billion deal to sell juice brands such as Tropicana and Naked

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