PepsiCo is investing $550 million for a stake in the company behind the Celsius energy drink that has generated buzz on social media, expanding the soda and snacks company’s bet on the energy drinks market.
PepsiCo made the investment as part of a deal with Celsius Holdings that will give the maker of Mountain Dew and Gatorade a long-term deal to distribute Celsius products. In 2020, PepsiCo paid $3.85 billion to buy Rockstar Energy, another energy drink.