US: PepsiCo closes Naked Juice buy
PepsiCo's acquisition of self-styled super premium juice producer Naked Juice Co. has been completed.
The brand's owner, private equity firm North Castle Partners, confirmed the closure of the deal, which began at the end of November, late last week. The sale went through for an undisclosed sum.
Based in California and formed in 1983, Naked Juice has a portfolio of 25 juice and smoothies made without any added sugars or preservatives.
The Naked Juice stable is divided into functional families, each providing a different group of benefits. The families include superfoods, antioxidants and proteins.
"As we commence a new year, we are pleased to achieve a series of important milestones," said Charles F. Baird Jr., managing director of North Castle, "including the completion of the sale of Naked Juice to PepsiCo and the agreement to sell Avalon Natural Products to Hain Celestial, culminating (in) successful partnerships with the management teams to build both companies and position them for the next phase of their growth."
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