PepsiCo to buy probiotic drinks maker KeVita

November 22, 2016 9:38 AM EST

Cans of Pepsi are displayed at the Roland Garros stadium in Paris, France, May 28, 2016. REUTERS/Jacky Naegelen/File Photo


Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

(Reuters) - PepsiCo Inc (NYSE: PEP) said on Tuesday it would buy health beverage maker KeVita Inc, in an effort to diversify its soft drinks business and tap health conscious consumers.

California-based KeVita offers more than two dozen flavors of probiotic drinks, and all its drinks are certified organic, gluten-free and vegan, PepsiCo said in a statement.

Financial terms of the deal were not disclosed.

Earlier on Tuesday, soft-drinks maker Dr Pepper Snapple Group Inc (NYSE: DPS) said it would buy antioxidant beverages maker Bai Brands LLC for $1.7 billion.

Reuters reported last month that Pepsi was nearing a deal to buy KeVita.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Add Your Comment