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Investing.com -- PepsiCo (NASDAQ:PEP), the global food and beverage giant, said on Monday it has agreed to purchase the prebiotic soda brand Poppi for a sum of $1.95 billion.
This move marks PepsiCo’s latest venture into the healthier soda category, reflecting an increasing demand among younger consumers in the U.S. for such products.
Poppi, a soda brand based in Austin, Texas, is known for its prebiotic-rich beverages. The company was founded by Allison Ellsworth and Stephen Ellsworth.
The acquisition by PepsiCo is expected to further diversify its product portfolio, which is already extensive, to include more health-oriented beverages.
The deal also includes $300 million of anticipated cash tax benefits. When these benefits are taken into account, the net purchase price for Poppi stands at $1.65 billion.
This acquisition is another step in PepsiCo’s strategic move towards offering a wider variety of healthier beverages to meet the evolving preferences of consumers.
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