For the second time today, a giant soda company has announced an acquisition of a smaller company that makes drinks that are a lot less sugary. Earlier today, it was Dr Pepper Snapple spending $1.7 billion on flavored water maker Bai Brands. Now comes news that PepsiCo is acquiring KeVita, a brand known for its kombucha offerings.
Kombucha is fermented tea, which results in a beverage that is lightly carbonated and tastes a bit vinegary. The fermenters market the beverages based on their low calorie count and supposed benefits to health and digestion, and not necessarily their pleasant flavor.
The drinks attract a premium price, and PepsiCo noted in its press release that the acquisition of Kevita will “expand [its] health and wellness offerings in the premium chilled beverage space.” I think that space is also called a “cooler.”
Kombucha drinks have been growing in popularity along with other beverages that aren’t carbonated high fructose corn syrup, and PepsiCo invested in KeVita in 2013, when it had only been around for three years, to get in on the trend early.
The purchase price wasn’t officially disclosed, but Fortune magazine reports that it was about $200 million.
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