PepsiCo To Acquire Prebiotic Soda Brand Poppi For $1.95 Bln

(RTTNews) - PepsiCo, Inc. (PEP) announced Monday that it 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.

The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction.

poppi is a fast-growing functional soda brand that combines prebiotics, fruit juice, and apple cider vinegar to create a deliciously refreshing low calorie soda with no more than five grams of sugar per serving.

poppi was created by Allison and Stephen Ellsworth, discovered on Shark Tank by Rohan Oza and funded by CAVU Consumer Partners from their initial seed round to date.

The transaction is subject to customary closing conditions, including regulatory approval. Additional terms of the acquisition were not disclosed.