PepsiCo will reportedly purchase Celsius’ preferred convertible stock, while Celsius will acquire the beverage giant’s Rockstar Energy brand in the U.S. and Canada.
PepsiCo Inc. (PEP) is reportedly set to increase its stake in Celsius Holdings Inc. (CELH) through a $585 million deal, which will result in its holdings rising to 11%.
According to a Bloomberg report citing people familiar with the matter, PepsiCo will purchase Celsius’ preferred convertible stock, while Celsius will acquire the beverage giant’s Rockstar Energy brand in the U.S. and Canada.
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