In November 2006, PepsiCo announced plans to acquire Naked Juice from its prior owners, North Castle Partners, for an undisclosed sum. The acquisition, which was completed in 2007, was recognized as marking PepsiCo's more recent shift towards ownership of food and beverage brands with a health and wellness aspect. At this time, Naked Juice had recorded annual sales of $150 million within the U.S. According to financial industry analysts, this acquisition was initiated in part to compete with The Coca-Cola Company's 2001 purchase of Naked Juice rival Odwalla.