Procter & Gamble Selling Juice-Based Drink Business

CINCINNATI - The Procter & Gamble Co. on Thursday announced it is selling its Sunny Delight and Punica juice-based drink businesses for undisclosed terms to the private equity group J.W. Childs Associates of Boston.

The sale would allow P&G to concentrate on two of its major brands, Folgers and Pringles, said Jorge Montoya, president of the company's snacks and beverages division.

P&G said several of its managers will join the new company, to be known as the Sunny Delight Beverages Co., which expects annual sales of $550 million. William B. Cyr, v.p. and general manager of P&G's North America juice-based drink business, will be president and c.e.o.

The deal is expected to be completed by fall, P&G said.

J.W. Childs' holdings include Hartz Mountain Corp. and The Nutrasweet Co.
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