Pepsi Officially Acquires Cult-Favorite Soda Brand in Massive Deal
On Monday, PepsiCo announced that it had closed the acquisition of Poppi for a massive sum totaling $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion (it appears that the whole influencer vending machine controversy had almost no effect).
According to a press release, the acquisition is part of PepsiCo's "ongoing transformation of its portfolio," which is ever-changing to meet consumer needs and also what inspired Pepsi's decision to recently acquire gluten and grain-free Mexican-American foods brand, Siete, and beloved dip maker, Sabra.
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"Poppi represents a compelling strategic fit within our short- and long-term vision for the future of beverages," said Ram Krishnan, CEO of PepsiCo Beverages U.S., in a May 19 statement. "Its rapid growth, strong consumer engagement, and differentiated functional positioning make it a dynamic addition to our portfolio."
"We are excited to scale Poppi's momentum and unlock new growth through our capabilities – we're just getting started," Krishnan added.
Poppi CEO Chris Hall also said the brand is "incredibly grateful to our passionate community" and looking forward to the "next phase of growth" with Pepsi.
"PepsiCo's belief in the Poppi brand is a tremendous validation of the work we've done to advance our mission,"Hall explained.
What this means for fans of Poppi is currently unclear. It doesn't appear as though any recipe changes or flavor collabs are immediately underway, but the availability of the prebiotic gut-health soda could soon explode should PepsiCo retailers and distributors that hadn't stocked it before start offering it now.
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