Pepsi to acquire prebiotic soda brand Poppi for $1.95 billion
PepsiCo, Inc. is buying buzzy prebiotic soda brand Poppi for US$1.95 billion.
Poppi’s portfolio—Doc Pop, Lemon Lime and Classic Cola, to name a few—plays on popular soda brands like Coca-Cola, Dr. Pepper and Sprite, but with a gut-healthy twist.
The brand, created by Allison and Stephen Ellsworth, was featured on ABC reality series Shark Tank.
Pepsi said the deal allows it to meet consumers’ desire for healthy, convenient beverages.
"As we look to reorient our portfolio offerings to address white space consumer needs, the Poppi brand's unique intersection with wellness and culture is a perfect addition to our portfolio," said Ram Krishnan, CEO, PepsiCo Beverages U.S., in a release. "Allison and the poppi team have built a magnetic brand that's ahead of the trends, with a loyal consumer base and a demonstrated capacity for growth. We are big fans of the poppi brand movement and believe this incredible brand paired with our commercial capabilities will drive continued growth and innovation for years to come."
Allison added that she hopes Poppi will be enjoyed for “generations to come.”
“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,” she said in a release. “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. I hope our story inspires others to explore their passions, take the risk, and believe that anything is possible."
