M&A Deal Summary

PepsiCo Acquires Tropicana Products

On July 21, 1998, PepsiCo acquired beverage company Tropicana Products from The Seagram for 3.3B USD

Acquisition Highlights
  • This is PepsiCo’s 1st transaction in the Beverages sector.
  • This is PepsiCo’s 4th largest (disclosed) transaction.
  • This is PepsiCo’s 3rd transaction in the United States.
  • This is PepsiCo’s 1st transaction in Florida.
Investment Fate
  • Tropicana Products was divested to a consortium of buyers in 2021.

M&A Deal Summary
Date 1998-07-21
Target Tropicana Products
Sector Beverages
Buyer(s) PepsiCo
Sellers(s) The Seagram
Deal Type Divestiture
Deal Value 3.3B USD

Target

Tropicana Products

Bradenton, Florida, United States
Tropicana Products is a provider of juices, and brands including Tropicana, Naked, KeVita, Izze, Dole, Copella, and Punica. Tropicana Products was founded in 1947 and is based in Bradenton, Florida.

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Buyer(S) 1

Buyer

PepsiCo

Purchase, New York, United States
Category Company
Founded 1898
Sector Beverages
Employees318,000
Revenue 91.5B USD (2023)
DESCRIPTION
PepsiCo office in Columbia, Maryland.
PepsiCo office in Columbia, Maryland.

PepsiCo is a global food and beverage company. PepsiCo's brands include Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Through its operations, authorized bottlers, contract manufacturers and other third parties, PepsiCo makes, markets, distributes and sells a wide variety of beverages, foods and snacks. PepsiCo was founded in 1898 and is based in Purchase, New York.

DEAL STATS #
Overall 3 of 27
Sector (Beverages) 1 of 10
Type (Divestiture) 1 of 4
State (Florida) 1 of 1
Country (United States) 3 of 18
Year (1998) 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-07-04 California Pizza Kitchen

Costa Mesa, California, United States

California Pizza Kitchen is a casual dining chain featuring an imaginative line of hearth-baked pizzas, including the original BBQ Chicken Pizza, and a broad selection of distinctive pasta, salads, appetizers, soups, sandwiches, and desserts. California Pizza Kitchen was founded in 1985 and is based in Costa Mesa, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-01 Chipsy For Food Industries SAE

Giza, Egypt

Chipsy For Food Industries SAE exports potato chips and products in Saudi Arabia, Kuwait, and Lebanon.

Buy -

Seller(S) 1

SELLER

The Seagram

Montreal, Quebec, Canada
Category Company
Sector Beverages
Employees34,000
DESCRIPTION

The Seagram Co. Ltd. based in Canada is the distiller of alcoholic beverages in the world.

DEAL STATS #
Overall 1 of 1
Sector (Beverages) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (1998) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1988-01-01 Tropicana Products

Bradenton, Florida, United States

Tropicana Products is a provider of juices, and brands including Tropicana, Naked, KeVita, Izze, Dole, Copella, and Punica. Tropicana Products was founded in 1947 and is based in Bradenton, Florida.

Buy -
Mergr

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