PepsiCo to Acquire poppi
poppi is a functional soda brand that combines prebiotics, fruit juice, and apple cider vinegar to create a low calorie soda
PepsiCo, Inc. announced 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 low calorie soda with no more than 5g of sugar per serving. poppi's consumer-first approach, cultural cache, and nutritional profile have nurtured a loyal fan base and driven rapid growth. 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 today.
The transaction is subject to customary closing conditions, including regulatory approval. Additional terms of the acquisition were not disclosed.
