PepsiCo buys prebiotic soda brand Poppi for more than $1.6 billion

PepsiCo said Monday that it is buying prebiotic soda brand Poppi for more than $1.6 billion.The food and beverage giant said it plans to acquire the upstart for $1.95 billion. The deal includes $300 million of anticipated cash tax benefits, making the net purchase price $1.65 billion.Pepsi will also have to make additional payments if Poppi achieves certain performance milestones within a set time frame after the acquisition closes.Pepsi did not say when the deal is expected to close, pending regulatory app ...