Ocean Spray farmers decline Pepsi offer

A group of about 900 cranberry and grapefruit growers who make up the Ocean Spray co-op narrowly rejected a bid from PepsiCo to acquire half its business. The co-op had been seeking ways to expand its business, and those in favor of the bid say Ocean Spray can't survive competition from bigger companies. One beverage consultant said the co-op will face challenges thriving in the current marketplace.

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