The grower-owners of Ocean Spray are planning to vote this month on an offer from PepsiCo to buy half of the cooperative's branded business. Around 800 cranberry and 100 grapefruit farmers will vote on the bid during the week beginning 23 May.

If PepsiCo's offer is rejected, Ocean Spray will cease discussions about a sale or joint venture with the drinks giant. If the bid is accepted, however, Ocean Spray's board will enter into negotiations with Pepsi, with a deal likely by the end of the summer.

Both sides declined to disclose the amount of the offer.