PepsiCo announced Monday a $550 million investment in energy drink maker Celsius Holdings as part of a long-term distribution deal with the smaller company.
For Pepsi, the deal helps strengthen its ties to energy drinks. The category is one of the fastest growing beverage segments outside of alcohol, and Pepsi has been doubling down on energy in recent years as soda consumption falls. In early 2020, itfor $3.85 billion with a goal of revitalizing its sales. Celsius recently overtook the brand as the fourth most popular energy drink in the U.S.
Pepsi had previously bet on another fast-growing upstart, Vital Pharmaceuticals' Bang Energy, through an exclusive distribution agreement. But the relationship quickly soured, resulting in a legal battle that ended in Pepsi's favor. In June, the two companies parted ways earlier than expected. The breakup fueled speculation that Pepsi would seek to acquire
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