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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.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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