PepsiCo Purchases Tropicana; Names Rodkin CEO

PepsiCo, Inc. has completed its $3.3 billion acquisition of Tropicana Products, Inc. from The Seagram Company Ltd. and named Gary Rodkin president and CEO of the juice company.

With 1997 revenues of nearly $2 billion, Tropicana is the world's largest marketer and producer of branded juices. Its portfolio of trademarks include Tropicana Pure Premium, Season's Best, and Dole.

Rodkin has played a key role in Tropicana's success since 1995 as president of Tropicana North America from General Mills, where he was president of the Yoplait-Columbo yogurt division.

Tropicana, based in Bradenton, FL, is one of the world's largest juice companies with its Tropicana Pure tropics 100% juice products and Tropicana Twister juice beverage products.

PepsiCo consists of Pepsi-Cola Company, the world's second largest beverage company, and Frito-Lay Company, the world's largest maker of salty snacks.