P&G Seeks Buyers for Sunny Delight and Punica

Procter & Gamble is exploring alternatives for its Sunny Delight and Punica juice drink products including the sale of the brands and related assets.

"A key element of our strategic focus involves tough choices that enable us to redeploy resources and invest in core and new businesses," P&G president and CEO A.G. Lafley, said in a statement. "This is one of those tough but right choices."

The brands have made significant progress on delivering a better cost structure, better brand equity and are leaders in their home markets, the company said.

The decision enables the firm to focus on growing its snacks and coffee businesses, Jorge Montoya, president of P&G's global snacks and beverages business, said in a statement.

P&G is considering a sale or alternative offers for the businesses as a group or as individual units. Goldman Sachs has been retained to act as an advisor in any transaction.

P&G, Cincinnati, acquired Sunny Delight in 1964 and Punica in 1984, which is sold primarily in Germany.