Reported about 19 hours ago
PepsiCo has announced its acquisition of prebiotic soda brand Poppi for $1.95 billion to strengthen its position in the functional beverage market. This deal, which includes an anticipated $300 million in cash benefits, represents a significant opportunity for Poppi to expand its reach. Co-founder Allison Ellsworth expressed excitement about joining forces with PepsiCo to enhance the brand's growth. Despite facing class-action lawsuits concerning health claims, Poppi insists that its products are beneficial and has settled claims while modifying its marketing. PepsiCo's shares saw an increase following the announcement.
Source: YAHOO