Latest news with #beverages
Yahoo
3 days ago
- Business
- Yahoo
Poppi founder Allison Ellsworth went from making soda in her kitchen to selling her company to PepsiCo for $1.95 billion
– Soda success. Ten years ago, Allison Ellsworth started mixing fruit, apple cider vinegar and soda water in her kitchen with the goal of making a 'healthy' soda that was low in sugar and high in fiber. Last month, PepsiCo closed the acquisition of Ellsworth's beverage company, now known as Poppi, for $1.95 billion (this figure includes an estimated $300 million of cash tax benefits). 'From day one, we knew that this [selling the company] was always something we wanted to do,' says Ellsworth, who cofounded Poppi with her husband, Stephen, and will remain with the brand as a creative advisor. It was PepsiCo who made the first approach, and the big draw from Poppi's perspective—in addition to the dollar signs, of course—was the impact an acquisition would have on its distribution system, she adds. In 2024, Poppi, which brands itself as 'prebiotic soda,' had annual revenue of more than $500 million, according to the company, and was sold in over 120 different retailers, including Whole Foods, Target, and CVS. It is currently only available in the U.S., Canada and Mexico. 'There were places we couldn't get in before, like sports arenas and certain fast casual restaurants,' Austin-based Ellsworth explains. 'Now we have a Ferrari underneath us for distribution.' (The 'functional' beverages market, meaning drinks that claim to offer health benefits beyond hydration, was worth around $175.5 billion in 2022 and is expected to soar to $339.6 billion by 2030.) It's a remarkable trajectory for a company that only officially launched in 2020, and one facilitated in part by Ellsworth's determination that Poppi be 'a community' at the intersection of wellness and influencer culture, rather than a straightforward drinks brand. 'We are not just a soda,' she says. Cans of Poppi come in 16 flavors and are known for their bold, neon branding and celebrity fans (Olivia Munn, Post Malone, Alix Earle, and Nicole Scherzinger are all investors). Ellsworth, who in 2018 appeared on Shark Tank while nine months pregnant, resulting in a $400,000 investment from Rohan Oza, is the face of the brand. She frequently communicates with its approximately 1.2 million followers across Instagram and TikTok, announcing new initiatives and addressing controversy when it arises. Notably, Poppi has recently settled a class action lawsuit for $8.9 million, following allegations from a consumer that the company's marketing promises around gut health are misleading. One can contains 3 grams of fiber and 5 grams of sugar, according to the company. The lawsuit contends that the drinks would need more prebiotic fiber and less sugar to positively impact digestion. 'It's something that big brands go through,' says Ellsworth of the lawsuit. 'It feels good that it's behind us.' The company's official statement on the settlement adds that Poppi 'acknowledges no fault, liability or wrongdoing.' Ellsworth compares handing over the reins of her company to watching a child go off to college. 'You're happy but you have anxiety,' she says. 'You want to see it flourish, but you want to hold on. But I have a calmness. We did good. Poppi is in good hands.' Ellie The Most Powerful Women Daily newsletter is Fortune's daily briefing for and about the women leading the business world. Today's edition was curated by Nina Ajemian. Subscribe here. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Business
4 days ago
- Business
- Arabian Business
Almarai to acquire Pure Beverages Industry for $280mn
Saudi Arabia's Almarai Company is acquiring 100 per cent of the shares of Pure Beverages Industry for SAR1.04 billion (US$280 million). Pure Beverages owns popular brands like Ival and Oska and is a leading producer of high-quality bottled drinking water in Saudi Arabia. The company operates state-of-the-art facilities that use innovative production technologies. Almarai, with over 50 years of experience in the region (established 1977), is one of the largest food production and distribution companies in the Middle East, offering fresh dairy, yogurt and cheese, as well as juices, baked goods, poultry, and infant nutrition products. In a filing with Tadawul, Almarai said: 'This strategic acquisition aligns with Almarai's growth strategy to expand its beverage portfolio and enhance its consumer offerings. Almarai is confident that this acquisition will create value for its shareholders.' The acquisition will be financed through the company's internal cash flows and completion is subject to mandatory regulatory approvals. Arab News said that according to the General Authority for Statistics, bottled water was the primary source of drinking water used by households in Saudi Arabia in 2023, with a reliance rate of 57.24 per cent. This was followed by public network water at 23.56 per cent and tanker water at 18.60 per cent.
Yahoo
4 days ago
- Business
- Yahoo
Jim Cramer on Coca-Cola Consolidated: 'I Would Hold On to It'
Coca-Cola Consolidated, Inc. (NASDAQ:COKE) is one of the 16 stocks Jim Cramer recently discussed. A caller asked about COKE, and in response, Cramer said: 'You know… It doesn't have the yield that people want. I think it's a really good company. It is very intriguing to me because the distribution is a really good business. I would hold on to it just because I think the distribution business, not because it's necessarily good right now, but I do know that long term, it's been a good one…' A line of colourful nonalcoholic and carbonated beverages and soft drinks at a convenience store. Coca-Cola Consolidated (NASDAQ:COKE) is the largest bottler of Coca-Cola products in the U.S., producing and distributing a wide range of beverages to millions of consumers. In the first quarter of 2025, the company reported net sales that declined by 1% due to a quarter that had two fewer selling days compared to the same period in 2024. Gross profit totaled $627 million, which was a 2% decrease year over year, while gross margin fell by 50 basis points to 39.7%. While we acknowledge the potential of COKE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Zawya
4 days ago
- Business
- Zawya
Almarai to buy Saudi bottled drinking water producer for $277mln
Saudi Arabia's dairy and food group Almarai will acquire Pure Beverages Industry, a Riyadh-based bottled drinking water manufacturer, for 1.04 billion Saudi riyals ($277.23 million). The acquisition aligns with Almarai's growth strategy to grow its beverage portfolio and expand its consumer offerings. The buyout will be financed through internal cash reserves. However, the completion of the deal is subject to the fulfillment of contractual conditions and obtaining the necessary regulatory approvals in the kingdom. Pure Beverages, established by Ajlan & Bros Group in 1979, owns the Ival and Oska brands, according to the company's website. In March, Almarai said a plan to fully acquire the shares of Hammoudeh Food Industries by one of its subsidiaries for SAR263 million fell through as the seller was unable to meet certain conditions required to complete the transaction. (Editing by Seban Scaria
Arab News
5 days ago
- Business
- Arab News
Saudi Arabia's Almarai to acquire Pure Beverages Industry Co. in $277m deal
RIYADH: Saudi dairy giant Almarai has signed an agreement to fully acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and enhance its market position. Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its 'Ival' and 'Oska' brands. The company operates modern facilities and follows established production standards with a focus on quality and sustainability. Mergers and acquisitions are on the rise in Saudi Arabia as the nation pursues economic diversification and privatization efforts under Vision 2030, a strategy that promotes foreign investment and supports local entrepreneurship. In a statement, Almarai stated: 'This strategic acquisition is in line with Almarai's plan to diversify its beverage offerings and enhance its market position. We believe this deal will create added value for our shareholders.' The transaction will be funded through Almarai's internal cash flows and is subject to fulfilling all contractual conditions and obtaining necessary regulatory approvals in the Kingdom. Almarai also confirmed that there are no related parties involved in the transaction and pledged to disclose any material updates regarding the deal in the future. Founded in 1977, Almarai is one of the largest food production and distribution companies in the Middle East, offering fresh dairy, yogurt and cheese, as well as juices, baked goods, poultry, and infant nutrition products. Listed on Tadawul since 2005, it remains one of the market's highest-valued companies. According to the General Authority for Statistics, bottled water was the primary source of drinking water used by households in Saudi Arabia in 2023, with a reliance rate of 57.24 percent. This was followed by public network water at 23.56 percent and tanker water at 18.60 percent. Given the heavy reliance on bottled water, the Saudi Water Authority plays a pivotal role in regulating and improving water sources — ensuring sustainability, safety, and accessibility across all supply methods. The authority is the competent body in the Kingdom for all water system affairs at the supervisory and regulatory levels, providing strategic support to the sector through regulatory control and supervision.
