PepsiCo Buying German Juice Maker
PepsiCo announced it has agreed to acquire Punica Getranke GmbH, a German maker of fruit juices and juice drinks, from Sunny Delight Beverages Co., a portfolio company of J.W. Childs Associates, L.P.
The acquisition will immediately expand and strengthen PepsiCo's German beverage portfolio by providing a leading position in several juice-related categories, the company said. It will dramatically expand PepsiCo's juice business in Continental Europe, which currently includes Tropicana and several affiliated brands. The purchase also will establish Germany as one of PepsiCo's largest juice and juice-drink markets in Continental Europe.
The Punica brand is marketed as the "fruitladen thirstquencher," and its product portfolio ranges across three beverage segments: fruit nectars and juice drinks, tea and fruit blends, and schorles (fruit juice and sparkling mineral water).
Punica products are offered in a range of packages, including glass bottles, paper cartons and PET plastic bottles. Punica's products are distributed principally through grocery chains and Germany's more than 10,000 drink center outlets.
"Punica represents an outstanding brand and an outstanding team that will strengthen our beverage portfolio in several fast-growing industry segments," said Michael D. White, chairman and chief executive officer of PepsiCo International. "This investment is an important part of our ongoing effort to offer consumers a range of beverage choices. It also reflects our continuing optimism about growth prospects for PepsiCo in Germany and across Europe."
Punica owns and operates a state-of-the-art plant in Hamburg for manufacturing concentrate and finished products.
The transaction, which is subject to regulatory clearance, is expected to be completed within the next several weeks. Terms were not disclosed.