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Tropicana Brands Group

Profile reviewed

Tropicana Brands Group's owned juice brands include Tropicana, Naked and UK-origin Copella. PAI controls the venture and PepsiCo retains a noncontrolling investment. [1][2][3][4][5]

01 / Behind the name

Who owns Tropicana Brands Group?

Private · PAI-controlled joint venture with PepsiCo minority [1]

  1. 01
    Named soft drinks business / brand-rights holder

    Tropicana Brands Group · joint-venture business [1]

    As reported · 12 Oct 2026

The juice-business sales completed in 2022. The current group describes a PAI Partners/PepsiCo joint venture; PepsiCo's 2025 filing reports 39% noncontrolling ownership. PAI control does not mean 100% ownership, and the complete fund/holding-company chain is not verified here. The group's separate partners/distributors section is not evidence that it owns Dole, Twister, Starbucks or Pure Leaf Tea. A privacy-policy contact address is not used as headquarters evidence. [1][2][3][4][5]

Explore Tropicana Brands Group · joint-venture business

Owner & brand overview

02 / On the map

Where is it based?

Named commercial group · legal holding chain not reconciled
Tropicana Brands Group · joint-venture business [1]
Group headquarters
Not yet verified [1]
Parent incorporated in
Not yet verified [1]

Headquarters, incorporation and tax residence describe different things. A headquarters address does not tell you where all of a company’s tax is paid.

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Investors in Tropicana Brands Group

Investor disclosures found

Selected investor disclosures have been found. Each names the held entity, basis and date; the complete investor register remains outside this review. A stake in a parent or operating company is shown against that entity. Dates refer to each disclosure and can differ from the profile review date. Evidence links are included with each record.

Equity ownership

PepsiCo, Inc.

Held entity · Tropicana Brands Group · joint-venture business

39% noncontrolling interest

Annual-report snapshot ·

PepsiCo's 2025 noncontrolling investment and PAI's current sponsor portfolio have separate dates. This is not a 100% PepsiCo holding or an exact full fund/vehicle cap table.

Evidence · 3 sources
Fund investment

PAI Partners

Held entity · Tropicana Brands Group · joint-venture business

Controlling sponsor investment · complete vehicle split not verified

Portfolio page checked ·

PepsiCo's 2025 noncontrolling investment and PAI's current sponsor portfolio have separate dates. This is not a 100% PepsiCo holding or an exact full fund/vehicle cap table.

Evidence · 3 sources

Explore investor coverage

Explore the portfolio

Brands in the Tropicana Brands Group portfolio

Tropicana, Naked and Copella are the UK-focused catalogue, with three separately labelled international owned brands for context. Current group partner/distributor listings are not treated as owned brands. This is not a full SKU or UK stock inventory.

Brand research reviewed . Ownership and tax figures elsewhere on this page describe the group, not individual brands.

Showing 6 of 6 brands and ranges

  • Tropicana

    Beverages · Soft drinks · Juices & smoothies

    Markets & sources (1)
    • UK soft drinks range [4]
  • Naked

    Beverages · Soft drinks · Juices & smoothies

    Markets & sources (1)

    Also listed or searchable as: Naked Juice, Naked smoothies

    • UK soft drinks range [3]
  • Copella

    Beverages · Soft drinks · Juices & smoothies

    Markets & sources (1)
    • UK soft drinks range [3]
  • KeVita

    Beverages · Soft drinks

    Markets & sources (1)
    • Selected international owned range [3]
  • Izze

    Beverages · Soft drinks

    Markets & sources (1)
    • Selected international owned range [3]
  • Punica

    Beverages · Soft drinks · Juices & smoothies

    Markets & sources (1)
    • Selected international owned range [3]
Recent portfolio changes

03 / The figures, with context

What does it report in UK tax?

UK cash corporation tax has not been verified in this ownership review. This does not mean no tax was paid.

United KingdomNot yet verified

UK corporation tax paid

Not yet verifiedCash payment

Tropicana Brands Group · UK cash reporting scope not reconciled
Annual reporting period not yet verified

This ownership review has not established a UK cash corporation-tax payment. Bottling volumes, worldwide group tax, accounting charges and duties do not establish that amount. [1]

These figures have different scopes. They should not be added together or used as a like-for-like tax ranking.

Understand the measures

04 / Check our working

The public record.

Primary sources used in this profile. Company disclosures are attributed to the company; inclusion is not an independent audit.

  1. 01
    Tropicana Brands Group joint venture (opens in a new tab)

    Tropicana Brands Group · Current business established in 2022 as PAI Partners / PepsiCo joint venture; commercial group name is not an audited complete legal holding chain

    Accessed 12 Oct 2026
  2. 02
    PepsiCo 2025 Form 10-K (opens in a new tab)

    PepsiCo · Cover / p2: North Carolina incorporation and Purchase, New York executive offices; pp3–5: beverage trademarks and Lipton joint venture; p77: Rockstar US/Canada sale; Note 9 p97: TBG 39% noncontrolling interest

    Accessed 12 Oct 2026
  3. 03
    Tropicana Brands Group brands (opens in a new tab)

    Tropicana Brands Group · Owned core includes Tropicana, Naked, KeVita, Izze, Copella and Punica; separate partner/distributor section does not establish ownership of Dole, Twister, Starbucks or Pure Leaf

    Accessed 12 Oct 2026
  4. 04
    Tropicana UK story (opens in a new tab)

    Tropicana · Current UK brand and joint-venture context

    Accessed 12 Oct 2026
  5. 05
    PAI current Tropicana investment (opens in a new tab)

    PAI Partners · Current investment portfolio; sponsor-level holding, not a verified complete fund/vehicle equity table

    Accessed 12 Oct 2026