Deals
PepsiCo to Pay $550 Million for 8.5% Stake in Fitness-Drink Maker Celsius
- Beverage giant to pay $550 million in distribution agreement
- Celsius sales have grown quickly with vitamin-infused drinks
This article is for subscribers only.
PepsiCo Inc. will pay $550 million for a stake in fitness-energy drink maker Celsius Holdings Inc. as part of a long-term strategic distribution agreement.
PepsiCo is getting convertible preferred stock equating to 8.5% ownership in Celsius, the companies said Monday in a statement. The soft drink giant will become the preferred distribution partner globally for Celsius and will also nominate a director to serve on its board.