Husband-wife duo once made a low-calorie soda in their kitchen – their brand is now being acquired by PepsiCo for $1.95 Bn!

Look around and you'll see something from PepsiCo nearby. 

Lay’s, Doritos, or maybe a Pepsi can.

For years, the American multinational food, snack, and beverage corporation has served billions of customers. 

Here's a statistic that you might not believe at first glance: PepsiCo products are consumed more than one billion times in a single day. And that is across 200 countries!

Now PepsiCo, as recently as March 17, has acquired a brand called poppi and evolved its portfolio.

According to a press release on PepsiCo’s website, poppi has been acquired by PepsiCo for $1.95 billion. 

This includes $300 million of anticipated cash benefits for a net purchase price of $1.65 billion.

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WHAT IS POPPI

Founded by husband-and-wife duo Allison and Stephen Ellsworth, poppi is a Texas-based fast-growing prebiotic soda brand.

It all started from the couple's desire to make a “better-for-you soda.” Ultimately, the recipe took off from just being a homebrewed concoction in their kitchen to becoming a brand and making an appearance on Shark Tank. 

It soon became a popular brand with a loyal customer base. It was eventually funded by CAVU Consumer Partners.

With just five grams of sugar per serving, poppi offers low-calorie soda that is made with prebiotics, fruit juice, and apple cider vinegar. It comes in 14 flavours, including Strawberry Lemon, Raspberry Rose, Orange, Ginger Lime, Watermelon, Cherry Limeade, Grape, Wild Berry, Classic Cola, and Root Beer.

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THE $1.95 BILLION DEAL

Stating how poppi will enable PepsiCo to cater to customers who look for healthy options, Chairman and CEO of PepsiCo, Ramon Laguarta said, “More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness. poppi is a great complement to our portfolio transformation efforts to meet these needs.”

As for Allison, she said that they had never thought that they would be able to reach so many people with just the mission to “create a functional soda that stands the test of time.”

In her words, “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.”

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