PepsiCo To Acquire Probiotic Drinks Maker KeVita

23-Nov-2016 - USA

PepsiCo has agreed to buy probiotic drink maker KeVita, as the beverage giant expands its portfolio in the health-beverages segment.

"I am pleased to welcome KeVita into the PepsiCo family. Under the leadership of CEO Bill Moses, KeVita has become an innovative, high-growth brand that is transforming the functional beverage space," said Chris Lansing, general manager and vice president, PepsiCo Premium Nutrition.

Although, Pepsi did not disclose any financial terms of the deal. Fortune reports the transaction price to be around $200 million. PepsiCo had acquired a minority stake in KeVita back in 2013. (dpa)

Other news from the department business & finance

More news from our other portals

Topic world AI for food and beverages