PepsiCo Buys $550 Million Stake in Celsius

PepsiCo Buys , $550 Million Stake in Celsius.

PepsiCo Buys , $550 Million Stake in Celsius.

CNBC reports that on Aug.

1, PepsiCo announced its investment in the energy drink maker.

CNBC reports that on Aug.

1, PepsiCo announced its investment in the energy drink maker.

Celsius shares rose 8% that morning, increasing its market value to $6.7 billion.

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Celsius shares rose 8% that morning, increasing its market value to $6.7 billion.

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Pepsi now has a minority stake of about 8.5% in Celsius.

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CNBC reports that the company, which advertises its products as "healthy" energy drinks.

Had monumental growth amid the pandemic.

The company's revenue skyrocketed 217% to $123.5 million in the first quarter.

CNBC reports that outside of alcohol, energy drinks comprise one of the fastest-growing beverage sectors.

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As more people turn away from soda, Pepsi has been trying to get in on the energy drink craze.

In 2020, the company bought Rockstar for $3.85 billion, .

Which Celsius overtook as the nation's fourth most-popular energy drink.