Korea Investment & Securities has joined an acquisition deal of U.S.-headquartered juice brand Tropicana, through a partnership with PAI Partners, a leading private equity firm based in Europe. As PepsiCo agreed to sell Tropicana, the top orange juice brand in North America, to PAI Partners last August, the Paris-headquartered private equity firm has been jointly raising $4.4 billion in capital along with Korea Investment, Credit Suisse and Bank of America.
Korea Investment is the only Korea-headquartered financial company that is participating in the acquisition deal as a lead arranger. It explained that its investment banking subsidiaries in Hong Kong and New York have been cooperating closely with PAI Partners to win the chance in the deal.
PAI Partners, which has accumulated strong experience in the global food and beverage industries, signed the deal to acquire Tropicana, Naked and other select juice brands from PepsiCo last August. These juice businesses logged an approximate $3 billion in net revenue in 2020.