PepsiCo announced on Monday that it is acquiring the prebiotic soda brand Poppi for $1.95 billion. This acquisition positions PepsiCo with a rapidly growing brand in the functional beverage sector.
“More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness,” stated PepsiCo Chairman and CEO Ramon Laguarta.
The transaction includes $300 million of anticipated cash benefits, reducing the net purchase price to $1.65 billion. Co-founder of Poppi, Allison Ellsworth, expressed excitement about the partnership with PepsiCo, stating it will expand Poppi’s reach.
Ellsworth developed Poppi in her kitchen in 2015, mixing fruit juices with apple cider vinegar, sparkling water, and prebiotics. The brand gained significant attention in 2018 after appearing on “Shark Tank,” leading to a major rebranding effort by investor Rohan Oza.
“We’re beyond thrilled to be partnering with PepsiCo so that even more consumers across America, and the world, can enjoy Poppi,” said Oza, co-founder of CAVU Consumer Partners.
— news from ABC News