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ICR Inc. handles French private equity firm PAI Partners as it acquires a 61 percent stake in Tropicana and Naked Juice brands from PepsiCo for $3.3B.
The juice business chalked up $3B in 2020 revenues but had lower operating margins than PepsiCo’s energy drinks, zero-calorie beverages and snacks.
Pepsico retains exclusive distribution rights to the juice brands for US foodservice channels.
PAI boasts of a strong position in the food & beverage space. It owns Froneri, the world’s No. 2 ice cream maker (Häagen-Dazs, Cadbury) via a 50/50 venture with Nestle, and Ecotone, a leader in healthy/sustainable foods.
Frederic Stevenin, managing partner at PAI, sees growth potential for PepsiCo’s juice brands via stepped-up investment in product innovation and expansion into adjacent categories.
ICR’s Brian Ruby and Chris Gillick handle PAI Partners.
QVC Group is using Joele Frank for strategic communications as the TV home shopping pioneer declares Chapter 11.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
