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The sale will give PepsiCo the funds to develop and grow its portfolio of health-focused snacks and zero-calorie beverages, Chief Executive Officer Ramon Laguarta said, as the company focuses on more profitable brands. The deal is one of the many food and beverage investments PAI has made over the last few years. In , Nestle SA sold its U. Centerview Partners is the financial advisor to PepsiCo on the deal, while J. Also Read: Coke, Pepsi, Bisleri fined for violating plastic waste disposal rules. Clear all. Powered by. Join Our WhatsApp Channel. Follow Us on Channel. Economy Corporate Markets. Infra Pharma Real Estate. Stocks Auto World. Education Jobs Lifestyle. For reprint rights: Syndications Today.
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Private equity firm PAI Partners prides itself on its responsible investing and on its stated concern for environmental, social and governance ESG issues. In , Cliffstar was acquired by Refresco. One of the main reasons that the mostly Latin American immigrant workforce started organizing almost two years ago was the unsafe working conditions. Workers want to negotiate with Refresco to make the plant a safer and healthier workplace, but six months later, the company is still refusing to recognize the union and is contesting the results of the election. In , OSHA cited the plant in Wharton, NJ for eight serious violations, one repeat violation for something Refresco had previously been cited for, and two willful violations. The willful violations were for not providing hearing tests for workers exposed to prolonged noise. OSHA cited the plant for several serious violations in And in the spring of , The Wall Street Journal reported that workers at the New Jersey Refresco plant staged a walk out to protest the unsafe working conditions during the pandemic after a manager berated a worker who was worried about the coronavirus and said he felt ill. OSHA requires that employers keep a record of work-related deaths, injuries and illnesses. This log is intended to help in evaluating the type, frequency, and severity of injuries and illnesses. The injuries that were recorded in the log last year include a concussion, a dislocated shoulder, a burn due to a ruptured can, and the three instances of hearing loss, mentioned above. In October , workers notified OSHA of several workplace injuries that had occurred at the Wharton, NJ plant in the previous six months that had been omitted from the log. Search website.
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PepsiCo Inc unveiled a $ billion sale of its Tropicana and other juice brands in North America to French private equity firm PAI Partners on.
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