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Juice Pouch Brand Capri-Sun Is Exploring Minority Stake Sale

(Bloomberg) — Capri-Sun, the maker of juice drink pouches, is exploring the sale of a minority stake, according to people familiar with the matter.

The company, which is controlled by Swiss billionaire Hans-Peter Wild, is working with advisers to gauge interest from potential investors, the people said. It’s seeking to raise more than $500 million, according to the people, who asked not to be identified because the information is private. 

Capri-Sun aims to use any proceeds to buy back the license for Capri-Sun North America and accompanying operations that are currently held by Kraft Heinz Co., the people said.

Wild’s father created the Capri-Sun drink in 1969. The Zug, Switzerland-based company has $1.5 billion in annual sales and 24 production sites worldwide, according to its website. 

Deliberations are ongoing and there’s no certainty they will lead to a deal. A representative for Capri-Sun declined to comment. A spokesperson for Kraft Heinz said the company doesn’t comment on market rumors and speculation. 

With only 40% of its portfolio containing reduced or no sugar, Capri-Sun bucks the calorie-reduction trend embraced by big drink-makers like Coca-Cola Co. and PepsiCo Inc., although it doesn’t use artificial flavorings. An orange Capri-Sun pouch contains 16% of the UK’s guidelines for the daily sugar intake for an adult.

Wild, who is in his eighties, previously sold a minority stake in his flavorings business, Wild Flavors GmbH, to buyout firm KKR & Co. before an eventual exit to Archer-Daniels-Midland Co.

–With assistance from Deena Shanker.

©2024 Bloomberg L.P.

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