PepsiCo has acquired prebiotic soda brand Popi at $ 1.95 billion.
Poppi – which shut down in 2018 when co -founder Ellison Elsworth and her husband picked it on the shark tank – the popular functional beverage is a rapidly growing brand in the series category.
PepsiCo stated that the transaction included an estimated cash advantage of $ 300 million, causing the net purchase price to $ 1.65 billion.
PepsiCo president and CEO Ramon Languarta said, “More than ever, consumers are looking for convenient and great tasting options that fit their lifestyle and respond to their growing interest in health and well -being.”
Elsworth stated that the combination with PepsiCo would expand the access to the pope.
He said in a statement, “We cannot wait to start this next chapter with PepsiCo so that our soda can be brought to more people – and I know they will honor the Popi so specially, supporting the next stage of honor and innovation.”
Elsworth was known as Mother Beverages in Austin, Texas -based Popi – was known in her kitchen in 2015 because she loved soda, but was tired of the way she realized her. He mixed fruit juice with apple cider vinegar, sparkling water and prebiotics and sold drinks in the farmer’s markets.
After a successful pitch on the shark tank, investor Rohan Oka took a stake in Mother Beverages and served as a major rebrand.
The pope was born with its bright colored, fruit-fog compartment.
Co-founder CAVU consumer partners said, “We are thrilled to partner with PepsiCo to enjoy more consumers in the US and the world.”
But all this has not been smooth sailing for the pope. In the last summer, several square-carriage cases were filed by consumers against the brand, who said that its products do not improve the health of the intestine, as they show from their marketing.
Popi denied the claims, and said that it removed the context of “intestinal health” from its packaging at the end of 2023. But as per the admission of a court last week, Popi agreed to a disposal that includes a $ 8.9 million fund for payment to consumers. The hearing on settlement is scheduled for 8 May.
PepsiCo shares increased by nearly two percent in the morning trading on Monday.
