Procter & Gamble has found a buyer for its Sunny Delight and Punica brands. Following last year's announcement by P&G that it wanted to focus more on its snacks and coffee divisions, the company has sold the two brands to private equity firm JW Childs Associates. Financial terms for the sale were not disclosed.

The deal, subject to regulatory approval, should be completed during the July - September quarter this year.

JW Childs intends to operate the company as a standalone, known as the Sunny Delight Beverages Company. The new company will be based in Cincinnati and will operate in eight countries across North America and Europe.