PepsiCo Buying Energy Drink Maker Rockstar For $3.85B
From: abcnews
NEW YORK — PepsiCo is buying the energy drink maker Rockstar Energy Beverages for $3.85 billion.
PepsiCo and Coca-Cola have moved aggressively in their pursuit of consumers that have a much wider variety of drinks to choose from than several ago. Both must compete with smaller seltzer, soda, sparkling juice and energy drink makers that each market to a subset of consumers.
Coca-Cola has branched out from its Classic Coke to keep customers who have given up, or cut back drastically, on sugary drinks. The company said in its most recent quarter that Coca-Cola Zero Sugar had double digit sales gains last year. Coffee and tea sales — boosted by the company’s 2018 acquisiton of Costa Coffee — grew 4% in the final three months of 2019.
