PepsiCo to acquire poppi for $1.95B

PepsiCo (PEP) announced that it has entered into a definitive agreement to acquire poppi, a fast-growing prebiotic soda brand, for $1.95B, including $300M of anticipated cash tax benefits for a net purchase price of $1.65B. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. The transaction is subject to customary closing conditions, including regulatory approval. Additional terms of the acquisition were not disclosed.