On Tuesday morning, PepsiCo ($PEP@US) announced that they have agreed to sell Tropicana, Naked, and other North American juice brands to the French private equity firm PAI Partners for $3.3 billion. This follows the trend of other food and beverage businesses cutting down their portfolios, including rival Coca-Cola ($KO@US). Shares of PepsiCo are trading 0.26% higher at press time.