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PepsiCo Inc., the nation's second-largest beverage maker, agreed to acquire Punica Getranke GmbH, a top German maker of fruit juices and drinks, from Sunny Delight Beverages Co. for an undisclosed amount.
According to an Associated Press report, PepsiCo, which makes Tropicana and several other brands, said the deal will "dramatically" expand its juice business in Europe and give it a leading position in several juice categories with Punica's "fruitladen thirstquencher" brand.
"This investment is an important part of our ongoing effort to offer consumers a range of beverage choices," Michael D. White, PepsiCo International chairman and CEO, said in a statement. "It also reflects our continuing optimism about growth prospects for PepsiCo in Germany and across Europe."
Terms of the transaction were not disclosed. J.W. Childs Associates LP acquired Sunny Delight from consumer-products giant Procter & Gamble Co. in 2004.