Pepsi buys Pete & Johnny
The deal offers an escape route to the smoothie drinks company.
23/02/05 Pete & Johnny, the smoothie drinks company, has sold itself to the UK arm of Pepsi.
Although neither party would disclose the sum paid for the group, which is credited with introducing the crushed fruit drinks to the UK, industry insiders cited a figure of around £20 million.
The deal offers an escape route for PJs, which had seen its profitability slide. Losses for the year to December 2003 deepened from £503,000 to £1.6m.
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