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PAI Partners

1 linked company profile · 1 dated disclosure in this directory.

About this investor

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]

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]

Each card names the entity invested in. Linked companies and brands can sit below that entity. Stakes use the source’s definition and date; disclosures are selected and do not give a complete portfolio or investor register. Read the investor methodology.

Disclosed holdings & backing

Fund investment

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.

Ownership & related brands

Evidence · 3 sources
Former holdings & portfolio changes
    About & portfolio changes: sources · 5

    Research reviewed . Sources for individual investments are included on their disclosure cards.

    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
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