PepsiCo Makes Billion-Dollar Purchase of Texas Company
Recently the PepsiCo decided to spend over a billion dollars to acquire a Texas based prebiotic soda company.
It’s crazy as this is the second big business acquisition that PepsiCo has made in Texas, as back in October we told you about Siete Foods being purchased for $1.2 billion dollars.
What Texas Business Was Purchased and For How Much?
PepsiCo is adding the soda brand Poppi to its brand for the purchase price of $1.95 billion dollars.
Poppi in Hot Water About Health Claims
You’ve probably seen Poppi at a local grocery store, but the brand has been in some hot water recently as there are claims that the soda doesn’t improve your stomach health as much as its marketing suggests.
Poppi denied the claims but did agree to a settlement of $8.9 million in a fund for payment to consumers.
The co-founder of Poppi is Allison Ellsworth, who said, she is excited about this deal as it will expand Poppi’s reach.
How Was Poppi Created and Become So Successful?
Poppi was created in 2015 as a healthier alternative to soda. Ellsworth combined fruit juices and apple cider vinegar, sparking water, and prebiotics.
She started selling it at farmer’s markets with lots of success.
The brand really exploded in 2018 after an appearance on “Shark Tank”. They did get a deal when on the hit T.V. show.
This is another example of a Texan working hard and seeing that hard work pays off. I love seeing people who work hard getting rewarded for the work they put in.
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Gallery Credit: Liz Barrett Foster