On Monday, August 1, 2022, PepsiCo announced it was making a 550 million dollar cash investment into fitness energy drink Celsius connected to a long-term distribution partnership.
This move gets PepsiCo more established in the energy drink industry, which is one of the fastest growing non-alcoholic beverage categories in the sector. The deal equates to ownership of 8.5 percent of Celsius on a converted basis.
Kirk Tanner, chief executive officer of PepsiCo Beverages North America, said they are extremely pleased to partner with Celsius, and very excited about the opportunity for their two organizations to drive innovation and growth in the category of energy beverages.
Kirk Tanner said the growing momentum of the Celsius brand is coupled with the strength of the PepsiCo portfolio and its go-to-market capabilities to create a combination they believe will be very compelling, and valuable to consumers and retailers.
He also said that they are looking forward to seeing the impact these two outstanding organizations can make together to more completely capture energy occasions.
John Fieldly, chief executive officer and president of Celsius, said they believe the opportunity to partner with a global best-in-class distributor provides the company with significant additional shelf space in both existing retailers. The new expansion within the independent retailers that represents a significant portion of the convenience and gas channel of the United States where around 70 percent of energy drinks are sold.
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