Based in Texas, Poppi has carved out a unique niche in the rapidly expanding functional drinks sector. The company offers a diverse range of 14 flavors, each crafted to combine prebiotics, fruit juice, and apple cider vinegar. This results in a refreshing, low-calorie soda containing no more than five grams of sugar per serving.
Poppi was founded by husband-and-wife team Allison and Stephen Ellsworth. Their innovative brand gained recognition on Shark Tank, where it caught the attention of Rohan Oza and secured investment from CAVU Consumer Partners.
In a significant move, PepsiCo is set to benefit from an anticipated $300 million in cash tax advantages through the acquisition, along with potential additional earnouts linked to performance milestones achieved within a defined period following the completion of the transaction.
However, this transaction is still contingent upon standard closing conditions, including necessary regulatory approvals.
“We’ve been evolving our food and beverage portfolio over many years, including by innovating with our brands in new spaces and through disciplined, strategic acquisitions that enable us to offer more positive choices to our consumers,” stated Ramon Laguarta, PepsiCo’s chair and CEO.
“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.”
On the other hand, Poppi co-founder Allison Ellsworth remarked: “When I created Poppi in our kitchen, it was fuelled by a desire to create a better-for-you soda. We never imagined how many people we could reach through hard work, determination, and a clear mission to create a functional soda that stands the test of time.”
“We believe Poppi is the soda that will be embraced for generations to come, and we’re beyond grateful to the amazing Poppi team, our partners who believed in us from the very beginning, and most importantly our incredible community.”
“We can’t wait to begin this next chapter with PepsiCo to bring our soda to more people – and I know they will honour what makes Poppi so special while supporting our next phase of growth and innovation.”
