Prebiotic soda brand poppi, which gained popularity on Shark Tank, will be acquired by PepsiCo, according to an announcement from both companies.
The acquisition marks PepsiCo’s second billion-dollar deal this year, aimed at enhancing its offerings in the “better for you” category, which appeals to a “new generation of consumers,” the company suggests.
According to PepsiCo’s latest press release, the company has “entered into a definitive agreement to acquire poppi, a fast-growing prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion.”
Ramon Laguarta, Chairman and CEO of PepsiCo told investors, “We’ve been evolving our food and beverage portfolio over many years, including by innovating with our brands in new spaces and through disciplined, strategic acquisitions that enable us to offer more positive choices to our consumers.”
Laguarta stated that the acquisition would help in staying aligned with consumer trends. “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. poppi is a great complement to our portfolio transformation efforts to meet these needs.”
Allison Ellsworth, Co-Founder of poppi announced, “We believe poppi is the soda that will be embraced for generations to come, and we’re beyond grateful to the amazing poppi team, our partners who believed in us from the very beginning and most importantly our incredible community. We can’t wait to begin this next chapter with PepsiCo to bring our soda to more people – and I know they will honor what makes poppi so special while supporting our next phase of growth and innovation.”
By CEO NA Editorial Staff