PepsiCo completed the acquisition of 5% preferred stock in Celsius for $585m.

PepsiCo, an American multinational food, snack, and beverage corporation, completed the acquisition of 5% preferred stock in Celsius, an American company that produces a range of fitness and energy beverages, 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.