The Dealmakers Behind the Billion-Dollar Acquisition
The acquisition brings together some of the biggest legal and financial players in the industry.
- PepsiCo’s advisors: Cravath, Swaine & Moore LLP is representing PepsiCo, with Davis Polk & Wardwell LLP serving as tax counsel. Centerview Partners is acting as lead financial adviser, with J.P. Morgan Securities also providing financial guidance.
- Poppi’s advisors: Cooley LLP is advising Poppi on the deal, with Goldman Sachs & Co. serving as the brand’s financial adviser.
The Changing Landscape of the Soda Industry
PepsiCo’s latest move is a clear signal that the soda industry is no longer just about carbonated soft drinks laden with high fructose corn syrup. The rise of functional beverages, from prebiotic sodas to electrolyte-infused waters, is reshaping what consumers expect from their drinks.
With this acquisition, PepsiCo is not only acknowledging that shift—it’s betting billions that Poppi is the future of soda.
