The fruit juice co-operative, Ocean Spray Cranberries Inc., has reportedly engaged the investment bank, Morgan Stanley, to advise it on its strategic options which could include selling the company.

However, Ocean Spray spokesman, Chris Phillips, told the Boston Herald that a sale is just one of many options being reviewed.

"We have engaged some outside consultants, not on a transactional basis but purely on consulting basis, to help evaluate all those options," said Ocean Spray's Chris Phillips.