(AP)-PepsiCo will sell Tropicana and other juices to a private equity firm in exchange for pretax proceeds of $3.3 billion. 

PepsiCo will have a 39% non-controlling stake in a newly formed joint venture in the deal with PAI Partners. 

Juice sales began to decline significantly in the early 2000s when low-carb diets grew in popularity, and that trend has continued with more families choosing instead to buy waters or other no- or low-calorie drinks.

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 </figure>(AP)-PepsiCo will sell Tropicana and other juices to a private equity firm in exchange for pretax proceeds of $3.3 billion. PepsiCo will have a 39% non-controlling stake in a newly formed joint venture in the deal with PAI Partners. Juice sales began to decline significantly in the early 2000s when low-carb diets grew in popularity, and that trend has continued with more families choosing instead to buy waters or other no- or low-calorie drinks.

PepsiCo to sell Tropicana, other juices, in $3.3B deal