PepsiCo is buying prebiotic soda brand Poppi for $1.95 billion. The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.
Founders Allison and Stephen Ellsworth launched Poppi back in 2018, the same year rival Olipop was founded.
Poppi’s annual sales reportedly crossed $100 million in 2023.
Pepsi’s rival Coca-Cola recently launched its own prebiotic soda brand, called Simply Pop.
"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," said Chairman and CEO, Ramon Laguarta of PepsiCo. "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."
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