In 2020, the brands involved in the deal generated about $3 billion in revenue for Pepsi but trailed the company’s overall operating margin. Pepsi reported net sales of $70.37 billion in 2020.

PepsiCo said it is selling its 70-year-old juice business, including its most famous brand, Tropicana. The soda and snack giant said Tuesday it will get $3.3 billion for selling a 39 percent stake ...