PepsiCo completed the acquisition of an additional 5% stake in Celsius Holdings for $585m.

PepsiCo, a multinational food, snack, and beverage corporation, completed the acquisition of an additional 5% stake in Celsius Holdings, a functional beverage company, for $585m. “This agreement marks the next step in PepsiCo reshaping its brand portfolio to position us for long-term growth. Energy is an important growth category, and we believe this move with our partner Celsius creates a stronger multi-brand energy portfolio that is better positioned to serve different consumer cohorts. This transaction creates an aligned incentive structure for both parties to bring their individual expertise to better compete in the energy category,” Ram Krishnan, PepsiCo Beverages US CEO.