Pepsi Buys Prebiotic Soda Competitor Poppi for Nearly $2 Billion

Soda making giant PepsiCo is set to enter health-conscious soda market with purchase of ‘poppi’ which appeared on ABC’s ‘Shark Tank’ in 2018.

PepsiCo announced on Monday, March 17, it was acquiring "better-for-you" soda brand poppi. Photo courtesy PepsiCo

PepsiCo Inc. announced on March 17 that it will acquire the more-health conscious prebiotic soda brand ‘poppi’ for $1.95 billion.

The deal, which includes $300 million in anticipated cash tax benefits, brings the net purchase price to $1.65 billion, according to the press release. PepsiCo’s acquisition of poppi aligns with the company’s broader efforts to cater to more health-conscious consumers and tap into the rapidly growing prebiotic soda market.