PURCHASE, N.Y., Nov. 22, 2016 /PRNewswire/ -- PepsiCo, Inc.
(NYSE: PEP) announced today that it has entered into a definitive
agreement to acquire KeVita, a leading North American creator of
fermented probiotic and kombucha beverages. The transaction
will expand PepsiCo's health and wellness offerings in the premium
chilled beverage space.
"I am pleased to welcome KeVita into the PepsiCo family.
Under the leadership of CEO Bill
Moses, KeVita has become an innovative, high–growth brand
that is transforming the functional beverage space," said
Chris Lansing, general manager and
vice president, PepsiCo Premium Nutrition. "This announcement
is further evidence of PepsiCo's focus on delivering Performance
with Purpose by continuing to evolve our health and wellness
offerings to meet consumers' changing needs."
KeVita is a leader in fermented probiotic and kombucha beverages
with three product lines and live probiotics in every bottle. With
over two dozen flavors of Sparkling Probiotic Drink, Master Brew
Kombucha and Apple Cider Vinegar Tonic, all KeVita drinks are
certified organic, non-GMO, gluten-free and vegan. KeVita has a
loyal and rapidly growing consumer base in the fast growing
functional beverage space.
"Joining the PepsiCo family will give us an opportunity to
extend KeVita's trend-forward beverages to a broader audience,
while staying committed to our core values," said Bill Moses, CEO and co-founder of KeVita. "We're
looking forward to more consumers experiencing the KeVita brand and
to leveraging PepsiCo's marketing and distribution
capabilities."
Upon closing, which is subject to regulatory approval, KeVita
will continue to operate independently with its production and
bottling facilities located in Oxnard,
California.
About PepsiCo
PepsiCo products are enjoyed by consumers one billion times a
day in more than 200 countries and territories around the world.
PepsiCo generated more than $63
billion in net revenue in 2015, driven by a complementary
food and beverage portfolio that includes Frito-Lay, Gatorade,
Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio
includes a wide range of enjoyable foods and beverages, including
22 brands that generate more than $1
billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our goal
to deliver top-tier financial performance while creating
sustainable growth and shareholder value. In practice, Performance
with Purpose means providing a wide range of foods and beverages
from treats to healthy eats; finding innovative ways to minimize
our impact on the environment and reduce our operating costs;
providing a safe and inclusive workplace for our employees
globally; and respecting, supporting and investing in the local
communities where we operate. For more information, visit
www.pepsico.com.
About KeVita
KeVita is a leader in fermented probiotic and kombucha beverages
with 3 refreshingly accessible product lines and live probiotics in
every bottle. Crafted since 2009, KeVita has grown from
a kitchen in Ojai, California to over 20,000 retail
locations across North America. KeVita uses only the purest
ingredients and pairs age-old techniques with modern technology to
provide the finest quality, flavor, and functionality in the
market. This commitment to quality continues through their advocacy
for rigorous testing and transparency in fermented beverage
labeling. For more information, visit http://www.kevita.com.
Cautionary Statement
Statements in this communication that are "forward-looking
statements" are based on currently available information, operating
plans and projections about future events and trends. Terminology
such as "believe," "expect," "intend," "estimate," "project,"
"anticipate," "will," or similar statements or variations of such
terms are intended to identify forward-looking statements, although
not all forward-looking statements contain such terms.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from those predicted in any such forward-looking statement. Such
risks and uncertainties include, but are not limited to: changes in
demand for PepsiCo's products, as a result of changes in consumer
preferences, increased taxes on our products or otherwise; changes
in or failure to comply with, applicable laws and regulations;
imposition by any jurisdiction (within or outside the U.S.) of new
or increased taxes or other measures that impact our products and
the timing thereof, disagreements with tax authorities or
additional tax liabilities; PepsiCo's ability to compete
effectively; PepsiCo's ability to grow its business in developing
and emerging markets or unstable political conditions, civil unrest
or other developments and risks in the markets where PepsiCo's
products are made, manufactured, distributed or sold; unfavorable
economic conditions in the countries in which PepsiCo operates;
increased costs, disruption of supply or shortages of raw materials
and other supplies; failure to realize anticipated benefits from
PepsiCo's productivity initiatives or global operating model;
business disruptions; product contamination or tampering or issues
or concerns with respect to product quality, safety and integrity;
damage to PepsiCo's reputation or brand image; failure to
successfully complete or integrate acquisitions and joint ventures
into PepsiCo's existing operations or to complete or manage
divestitures or refranchisings; changes in estimates and underlying
assumptions regarding future performance that could result in an
impairment charge; PepsiCo's ability to recruit, hire or retain key
employees or a highly skilled and diverse workforce; loss of any
key customer or changes to the retail landscape; any downgrade or
potential downgrade of PepsiCo's credit ratings; the ability to
protect information systems against or effectively respond to a
cyber attacks or other cyber incidents or other disruption;
PepsiCo's ability to implement shared services or utilize
information technology systems and networks effectively;
fluctuations or other changes in exchange rates, including the
impact of currency controls or other currency exchange
restrictions; the impact of deconsolidating our Venezuelan
subsidiaries; climate change, or legal, regulatory or market
measures to address climate change; failure to successfully
negotiate collective bargaining agreements or strikes or work
stoppages; any infringement of or challenge to PepsiCo's
intellectual property rights; potential liabilities and costs from
litigation or legal proceedings; and other factors that may
adversely affect the price of PepsiCo's common stock and financial
performance.
For additional information on these and other factors that could
cause PepsiCo's actual results to materially differ from those set
forth herein, please see PepsiCo's filings with the Securities and
Exchange Commission, including its most recent annual report on
Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors
are cautioned not to place undue reliance on any such
forward-looking statements, which speak only as of the date they
are made. PepsiCo undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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