Pepsico is buying prebiotic soda brand Poppi for almost $2 billion, Beverage Giant said Monday.
New York-based Pepsico reportedly planned to launch its own so-called functional soda under the SoulBoost brand, but instead decided to buy Poppi, a brand that combines prebiotics, fruit juice and apple cider to create low-calorie sodas.
Founded in 2016 as a healthy alternative to traditional soda, Poppi soda grew in popularity after an investment from “Shark Tank.”
PepsiCo said: “More than ever, consumers are looking for convenient, superior taste options that tailor their lifestyles and meet growing interest in health and wellness.”
The functional soda category is increasingly popular among health-conscious Americans, with drinks offering prebiotics and low-sugar ingredients.
Coca-Cola recently launched its own prebiotic brand, Simply Pop.
PepsiCo said it closed its $1.2 billion Siete Foods $1.2 billion acquisition for $1.2 billion after saying it bought the remaining 50% of its Sabla and Obella dip in November and spread the brand from Strauss Group.
