PepsiCo, Inc. announced that it has entered into a definitive agreement to acquire poppi, a fast-growing prebiotic soda brand in the U.S., for USD 1.95 billion, including USD 300 million of anticipated cash tax benefits for a net purchase price of USD 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’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.

About poppi
poppi is a prebiotic soda brand modernizing soda for the next generation. Founded by husband-and-wife duo Stephen & Allison Ellsworth, Austin, TX-based poppi combines prebiotics and fruit juice to create a deliciously refreshing, mouthwatering low calorie soda with no more than 5 grams of sugar per serving. What originally started as a home-brewed concoction quickly became a farmers’ market favourite turned Shark Tank investment and is now available at major retailers in the U.S. poppi’s brand-first approach, cultural cache, and rapid growth have nurtured an incredibly loyal community, including celebrity fans. poppi is available in 14 delicious flavours – Strawberry Lemon, Raspberry Rose, Orange, Ginger Lime, Watermelon, Cherry Limeade, Grape, Wild Berry, Classic Cola, Root Beer, Doc Pop, Lemon Lime, Orange Cream and Cherry Cola.