IN PHOTOS Northern lights dance across the night sky in southern Ont.
From London, to Mildmay, Collingwood and St. Thomas, here are some highlights of Friday night and Saturday morning's northern lights display.
PepsiCo will sell Tropicana and other juices to a private equity firm in a US$3.3 billion deal.
The New York drink and snack company will keep a 39% non-controlling stake in a newly formed joint venture in the deal with PAI Partners.
The sale reflects the industry's uncertainty about demand for fruit juice as consumers look for healthier options with less sugar, said Howard Telford, head of soft drinks at Euromonitor International, a market research firm.
"This deal reflects the desire of the industry to focus and innovate around a smaller core of categories and brands, including water, energy drinks, coffee and the staple carbonated soft drinks," Telford said.
U.S. juice sales volumes actually rose last year as more people enjoyed breakfast at home during the pandemic and sought the immunity benefits of vitamin C, Telford said. But that was a blip in a longer-term decline. Overall juice sales fell 3% between 2015 and 2020, the data firm said.
Juice consumption in the U.S. peaked in 2003 at 4.2 billion gallons, but by 2017, that had fallen to 3 billion gallons, wrote Brian Sudano, the managing partner of Beverage Marketing Corp. The group does not see that trend changing.
Pepsi rival Coca-Cola Co. has also been shedding slow-selling brands, including Odwalla and Zico juices, over the last year so it can focus on stronger performers. But Coke is holding on to its Minute Maid and Simply juice brands for now.
The juice business delivered about $3 billion in revenue for PepsiCo last year, but at operating profit margins that were below the company's overall margins, it said. In its annual report, Pepsi said falling juice sales offset gains for other products in North America, including water, sports drinks like Gatorade and energy drinks like Propel.
PepsiCo Chairman and CEO Ramon Laguarta said in a prepared statement Tuesday that the deal "will free us to concentrate on our current portfolio of diverse offerings, including growing our portfolio of healthier snacks, zero-calorie beverages, and products like SodaStream."
PepsiCo bought Tropicana in 1998 and the Naked juice brand, also part of the sale Tuesday, about 10 years later. It was heading in another direction by 2018 when it bought SodaStream, the carbonated drink machine company, for more than $3 billion.
PepsiCo Inc., based in New York, has the option to sell certain juice businesses in Europe.
The deal is expected to close late this year or early next year.
Pepsi shares were flat in early trading Tuesday.
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AP Business Writer Dee-Ann Durbin contributed to this report.
From London, to Mildmay, Collingwood and St. Thomas, here are some highlights of Friday night and Saturday morning's northern lights display.
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
The Netherlands' contestant in the Eurovision Song Contest was dramatically expelled from competition hours before Saturday's final of the pan-continental pop competition, which has been rattled by protests over the participation of Israel.
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
In the quiet and leafy Vancouver neighbourhood of South Cambie, best known for its botanical garden, playoff fever is about to set in.
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
Biden wants the 2024 election to be a referendum on Trump's record and plans, but he also wants voters to look favourably on his own policies and actions
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.