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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SOURCE PepsiCo