PepsiCo to buy probiotic drinks maker KeVita
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Cans of Pepsi are displayed at the Roland Garros stadium in Paris, France, May 28, 2016. REUTERS/Jacky Naegelen/File Photo
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(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)
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