PepsiCo acquired prebiotic soda brand Poppi for a total value of $1.95 billion. The purchase adds a fast-growing functional beverage name to the company's portfolio to expand its health-oriented offerings.
The deal secures a strong position for PepsiCo in the rapidly expanding gut-health drink category. This move increases competition with rivals Coca-Cola and Keurig Dr Pepper in the functional beverage segment.
The transaction highlights a trend of consumer staples giants acquiring popular health brands rather than developing them in-house.