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PepsiCo is selling Tropicana, Naked Juice and other North American juice brands to private equity firm PAI Partners to focus on growing its better-for-you portfolio, which includes zero-calorie beverages, said CEO Ramon Laguarta. PepsiCo will assume a 39% stake in a joint venture with PAI "to drive additional long-term growth for these beloved brands," said Laguarta in a statement.

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