The US consumer goods giant Procter & Gamble has said it will be putting its drink brands Sunny Delight and Punica up for sale, as the company attempts to focus on its snacks and coffee divisions.
P&G said that it was “exploring strategic alternatives” for the businesses, which contribute aroud US$550m in sales a year to the group. The alternatives include an outright sale or any other offers for the drinks, together or individually.
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“(Since) we’ve bought (the businesses), we’ve grown them substantially,” P&G said. “To really take it to the next level, it is going to take someone that has juice beverages as a corporate priority.”
P&G has retained Goldman Sachs as an adviser.
