PepsiCo Inc (PEP.N) said on Tuesday it would buy health beverage maker KeVita Inc, in an effort to diversify its soft drinks business and tap health conscious consumers.
California-based KeVita offers more than two dozen flavors of probiotic drinks, and all its drinks are certified organic, gluten-free and vegan, PepsiCo said in a statement.
Financial terms of the deal were not disclosed.
Earlier on Tuesday, soft-drinks maker Dr Pepper Snapple Group Inc (DPS.N) said it would buy antioxidant beverages maker Bai Brands LLC for $1.7 billion.
Reuters reported last month that Pepsi was nearing a deal to buy KeVita.
REUTERS
