PepsiCo has entered into an agreement to acquire Rockstar Energy Beverages, maker of energy drinks, for $3.85 billion. Rockstar products are available in over 30 flavors at convenience and grocery outlets in over 30 countries.
"As we work to be more consumer-centric and capitalize on rising demand in the functional beverage space, this highly strategic acquisition will enable us to leverage PepsiCo's capabilities to both accelerate Rockstar's performance and unlock our ability to expand in the category with existing brands such as Mountain Dew," said PepsiCo chairman and CEO, Ramon Laguarta, in a statement. "Over time, we expect to capture our fair share of this fast-growing, highly profitable category and create meaningful new partnerships in the energy space."
Related: PepsiCo Names North America Greenhouse Program Participants; PepsiCo to Launch Coffee-Cola Hybrid.
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