PURCHASE, N.Y. — PepsiCo, Inc. has entered into a definitive agreement to acquire KeVita, a North American creator of fermented probiotic and kombucha beverages. Financial terms of the transaction, which is subject to regulatory approval, were not disclosed.
KeVita offers functional beverages under three product lines: Sparkling Probiotic Drink, Master Brew Kombucha and Apple Cider Vinegar Tonic. All Kevita beverages, which are now in more than 20,000 retail locations across North America, contain live probiotics and are certified organic, non-G.M.O., gluten-free and vegan. The acquisition will expand PepsiCo’s health and wellness offerings in the premium chilled beverage space, the company said.
“Under the leadership of c.e.o. Bill Moses, KeVita has become an innovative, high–growth brand that is transforming the functional beverage space," said Chris Lansing, general manager and vice-president of PepsiCo Premium Nutrition. “This announcement is further evidence of PepsiCo’s focus on delivering Performance with Purpose by continuing to evolve our health and wellness offerings to meet consumers’ changing needs.”
When the transaction closes, KeVita will continue to operate independently with its production and bottling facilities located in Oxnard, Calif.“Joining the PepsiCo family will give us an opportunity to extend KeVita’s trend-forward beverages to a broader audience, while staying committed to our core values,” said Bill Moses, chief executive officer and co-founder of KeVita. “We’re looking forward to more consumers experiencing the KeVita brand and to leveraging PepsiCo’s marketing and distribution capabilities.”