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PepsiCo opens talks with investment company over Tropicana site in France

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PepsiCo has found a willing buyer for its Tropicana fruit juice production and bottling facility in France, with Munich-based investment holding company Navigator Capital lining up a move.

PepsiCo intends to offload its only Tropicana production facility in France

PepsiCo intends to offload its only Tropicana production facility in France

Back in April, the soft drinks group confirmed its intention to sell the site, amid a 25% slide in annual output over the past five years. Earlier this week, PepsiCo confirmed it has entered into exclusive discussions with Navigator Capital about the facility, located in Hermes in the north of the country.

Speaking on condition of anonymity, a source close to the negotiations said: "For Navigator Capital, this acquisition represents an opportunity to create an independent bottling entity for juice concentrate, pure juice, soups, etc. building further on the know-how of the team at the site and developing new products in partnership with existing brands, mainly based on carton packaging and focusing on niche markets with higher added value."

The facility would "continue producing Tropicana products at digressive volumes for the next three years, with Navigator Capital's volumes increasing over that period," the source added. It remains unclear where PepsiCo would move the production of Tropicana for France at the end of the three years.

The offer, which makes provision to retain the entire workforce at the plant, is subject to consultation with its works council, a process that is expected to take a couple of months to complete.

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