PepsiCo Completes Purchase of Poppi for $195M
PepsiCo, Inc. announced that it has closed the acquisition of Poppi for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes a performance-based earnout contingent on achieving certain performance metrics.
This acquisition marks a significant step in PepsiCo’s ongoing transformation of its portfolio, reinforcing its commitment to meeting evolving consumer preferences for great-tasting, functional products. Poppi, a fast-growing prebiotic soda brand, is among PepsiCo’s recent acquisitions, including Siete and Sabra, aimed at aligning with consumers’ modern wellness priorities.
“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. “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.”
On a mission to modernize soda for the next generation, Poppi is a fast-growing functional soda brand made with prebiotics, fruit juice, and apple cider vinegar – offering a refreshing, low-calorie drink with no more than five grams of sugar per serving. Poppi has taken a community- and culture-first approach – from vibrant packaging to a strong social media presence, viral TikTok campaigns, and influencer partnerships – all of which have cultivated a loyal community and effectively engaged Gen Z and millennial audiences.
“PepsiCo’s belief in the Poppi brand is a tremendous validation of the work we’ve done to advance our mission,” said Chris Hall, CEO of Poppi. “Their partnership and resources will be instrumental as we scale to our next phase of growth. We’re incredibly grateful to our passionate community and look forward to welcoming even more consumers into the Poppi portfolio.”
Centerview Partners LLC acted as lead financial advisor to PepsiCo, and J.P. Morgan Securities LLC also served as a financial advisor to PepsiCo. Cravath, Swaine & Moore LLP acted as legal advisor to PepsiCo, and Davis Polk & Wardwell LLP acted as tax counsel to PepsiCo. Goldman Sachs & Co. LLC acted as financial advisor to Poppi, and Cooley LLP acted as legal advisor to Poppi.
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Recess Debuts Mood Sparkling Water Flavor, Orange Vanilla
Relaxation beverage maker Recess. has debuted the latest flavor addition to its best-selling, magnesium-infused Mood sparkling water line: Orange Vanilla.
This delicious, dynamic flavor joins the established family of Mood sparkling waters. Each can combines magnesium & adaptogens to help you unwind, providing a gentle lift that puts you in the right headspace whether it’s a night out or a lowkey night in, sans alcohol. See below for details on the product:
About Recess’ Orange Vanilla Mood + A Celebratory Sale!
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Flavor Description: A perfect balance of juicy orange, creamy vanilla, and a splash of nostalgia, combined with effervescence that lifts you right up to the moment of zen you seek in a can of Recess Mood. Think of it as an adult creamsicle that tastes and feels like a dream.
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Nutrition Facts: Each serving of Recess Mood contains 53mg of magnesium from Recess’ proprietary magnesium blend, which includes magnesium L-threonate, magnesium ascorbate and active vitamin B6, as well as L-theanine and lemon balm powder. Each flavor is made with real fruit and no fake stuff.
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Price: $44.99/12 cans (or $39.99/12 cans for subscribe + save)
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Availability: Available on takearecess.com and on Amazon, with retail availability to come.
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Affiliate: ShareASale (ID # 92790)
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Zevia CFO Steps Down, Neubauer Appointed as Interim
Zevia PBC announced that Florence Neubauer, Zevia’s current senior vice president, financial planning & analysis, has been appointed interim chief financial officer, replacing Denise D. Beckles, who will be leaving the company effective Sept. 4 to pursue another opportunity. The company has launched a formal search process to identify a permanent replacement.
Neubauer has over 25 years of finance and accounting experience in the consumer products industry including extensive experience in beverage. Prior to joining Zevia, she served as chief financial officer of Assouline Publishing, a book publisher and luxury lifestyle company, and held progressive roles of responsibility at PepsiCo, Pernod Ricard and Honeywell.
Neubauer holds a French MBA in International Business from ISG Insitut Superieur de Gestion. She will report to Amy Taylor, Zevia’s president and CEO, until a permanent successor is named.
“Zevia has a deep pool of finance and accounting talent,” said Taylor. “We are confident that under Florence’s leadership, working in close partnership with the rest of the team including Hany Mikhail, our chief accounting officer, we will continue to strengthen our business, drive growth and accelerate our path to profitability, capitalizing on the increasing demand for the Zevia brand. We wish Denise well in her future endeavors.”
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