poppi acquired by PepsiCo
PepsiCo acquired poppi, a US functional beverages brand, on Mar 17, 2025.
Transaction summary
- Target
- poppi
- Acquirer
- PepsiCo
- Seller
- -
- Announced
- 2025-03-17
- Geography
- United States
- Tags
- ConsumerFood & BeverageFunctional Beverages
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 100%
- First added
- 2026-08-11
- Latest update
- 2026-09-29
Value and multiples
100% enterprise value
USD 1.9B
100% enterprise value | USD
Basis: Estimated
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
-
Period: varies by source
Basis: Derived from source data
EV / EBITDA
-
EBITDA basis not stated
Basis: Derived from source data
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Net Purchase Price: USD 1.6B
Issuer disclosed $1.95bn including $300m of anticipated cash tax benefits, for a $1.65bn net purchase price; earnout excluded.
Basis
- USD 1.9bn enterprise value is a FundComb estimate. Public sources reviewed confirm the transaction, but do not independently disclose every valuation input.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- The metric bundle combines reviewed sources. FundComb retains source attribution separately for each populated field.
- Deloitte Q2 2025 report, page 6, lists VNGR Beverage (poppi) implied EV of US$1.95bn. Retain as reported EV; do not deduct buyer-specific US$300m tax benefits. The earlier US$1.65bn net purchase price remains separate.
Source summary
PepsiCo to Acquire poppi
ConfirmedPepsiCo to Acquire poppi, a Fast-Growing Prebiotic Soda Brand
Open sourcePepsiCo to Acquire poppi
Confirmed$1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion.
Open sourcePepsiCo 2025 Annual Report
ConfirmedOn May 19, 2025, we acquired poppi, a fast-growing prebiotic soda brand, for $1.95 billion in cash.
Open sourcePepsiCo completes acquisition of poppi
EstimatedPepsiCo closed the acquisition for a net purchase price of $1.65 billion after anticipated cash tax benefits.
Open sourcePepsiCo fourth-quarter 2025 prepared remarks
Estimatedpoppi delivered 2025 estimated retail sales of nearly $745 million, an increase of more than 45 percent versus 2024.
Open sourcePepsiCo in Talks to Acquire Poppi
EstimatedPoppi surpassed $500 million in sales in 2024, The Information previously reported, and the company is profitable.
Open source100% EV basis review
EstimatedDeloitte Q2 2025 report, page 6, lists VNGR Beverage (poppi) implied EV of US$1.95bn. Retain as reported EV; do not deduct buyer-specific US$300m tax benefits. The earlier US$1.65bn net purchase price remains separate.
Open source