SEAGRAM TO SELL ORANGE JUICE BUSINESS
By Adnews Staff
The Seagram Company of Montreal has signed a deal to sell its global Tropicana juice business to U.S.-based PepsiCo Inc. for $3.3 billion. The move will allow Seagram to focus on its entertainment and spirits and wine businesses. The agreement is still subject to regulatory approvals and is expected to close by the end of August. In Canada, advertising for Tropicana is handled by Harrod & Mirlin/FCB of Toronto. Canadian advertising for PepsiCo beverages is created by BBDO Canada of Toronto.
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