PepsiCo has secured a nearly $2 billion deal to buy prebiotic-infused soda brand Poppi, the food and beverage manufacturer announced Monday.
PepsiCo said it had entered into a definitive agreement to acquire the Austin, Texas-based brand for $1.95 billion, which includes $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion.
The fast-growing prebiotic soda brand launched in 2018 as a home-brewed infused apple cider vinegar concoction sold at farmers' markets, before its founders, husband-and-wife duo Stephen and Allison Ellsworth, earned an investment with Rohan Oza on "Shark Tank."
"We can't wait to begin this next chapter with PepsiCo to bring our soda to more people and I know they will honor what makes poppi so special while supporting our next phase of growth and innovation," Allison Ellsworth, Poppi's chief brand officer, said in a statement.
Recently the brand drew millions of new consumer eyes thanks to its Super Bowl ad spot starring influencer Alix Earle.
Poppi is sold at major retailers nationwide, including Whole Foods, and combines fruit juice with prebiotics to create a refreshing soda drink that contains 5 grams of sugar and 25 calories per can.
"When I created poppi in our kitchen, it was fueled by a desire to create a better-for-you soda," Allison Ellsworth added. "We believe poppi is the soda that will be embraced for generations to come, and we're beyond grateful to the amazing poppi team, our partners who believed in us from the very beginning and most importantly our incredible community."
The soda comes in 16 flavors: Strawberry Lemon, Raspberry Rose, Orange, Ginger Lime, Watermelon, Cherry Limeade, Grape, Wild Berry, Classic Cola, Root Beer, Doc Pop, Lemon Lime, Orange Cream, Cherry Cola, and limited edition flavors Cream Soda and Cranberry Fizz.
Poppi has a cult-following with an A-list fan base that includes celebrities like Hailey Bieber, Kylie Jenner, Billie Eilish, Russell Westbrook and Jennifer Lopez.
