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PepsiCo Invests In Fitness Energy Drink Maker Celsius

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  • Celsius Holdings Inc (NASDAQ: CELH) has signed a distribution agreement with PepsiCo Inc (NASDAQ: PEP). In addition, PEP will make a net cash investment of $550 million to Celsius in exchange for convertible preferred stock.

  • As part of the investment, which equates to an estimated 8.5% ownership in Celsius, PEP will nominate a director to serve on Celsius' Board of Directors.

  • The distribution agreement initially transitions Celsius' current U.S. distribution to PepsiCo's capabilities.

  • The long-term U.S. distribution agreement is effective on August 1, 2022, and includes retail and food service channels.

  • PepsiCo will also become the preferred distribution partner globally for Celsius.

  • Price Action: CELH shares are trading higher by 12.6% at $100.17, and PEP is up 0.85% at $176.46 on the last check Monday.

  • Photo Via Company

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