
Poppi is owned by PepsiCo, Inc., which acquired the prebiotic soda brand on May 19, 2025 for $1.95 billion. PepsiCo is a publicly traded American multinational food and beverage company trading on NASDAQ under PEP and headquartered in Purchase, New York. Poppi was founded in 2018 by Allison and Stephen Ellsworth in Austin, Texas.
Parent Company
Acquired
2025
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Poppi | PepsiCo, Inc. | Wholly owned |
Poppi was founded in 2018 by Allison and Stephen Ellsworth, who began developing gut-healthy drinks in their kitchen. The concept emerged from Allison's desire to create a healthy soda alternative that combined fruit juice, apple cider vinegar, and soda water.
The brand initially operated under the name Mother Beverage before rebranding to Poppi. The founders appeared on Shark Tank, where they secured an investment that helped accelerate the company's growth. Throughout 2019-2024, Poppi expanded its distribution and product line, introducing various low-sugar flavors with 35 calories or less per serving.
By 2023, Poppi's sales had surpassed $100 million, and the brand was available in over 120 retailers. The company's success attracted major beverage industry attention, leading to PepsiCo's acquisition announcement in early 2025.
The acquisition was completed on May 19, 2025, for $1.95 billion, representing one of the largest acquisitions in the functional beverage category and validating Poppi's market position in the better-for-you soda segment.
What does PepsiCo own?
PepsiCo owns a portfolio of more than 23 billion-dollar brands across beverages, snack foods, and cereals. Key brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Aquafina, SodaStream, Lay's, Doritos, Cheetos, Fritos, Tostitos, Ruffles, Quaker Oats, Cap'n Crunch, and Poppi. The company also owns international snack brands including Walkers (UK), Sabritas and Gamesa (Mexico), and Smith's (Australia).
Is PepsiCo publicly traded?
Yes, PepsiCo is publicly traded on NASDAQ under ticker PEP. The company has been listed since 1965 and is one of the largest companies in the S&P 500. Major institutional shareholders include Vanguard Group, BlackRock, and State Street. PepsiCo is a Dividend Aristocrat, having increased its annual dividend for 54 consecutive years.
Who founded PepsiCo?
PepsiCo was formed in 1965 through the merger of Pepsi-Cola Company, founded by Caleb Bradham in 1898, and Frito-Lay, Inc., formed by Herman Lay in 1932. Bradham was a pharmacist in New Bern, North Carolina, who created Pepsi-Cola. Lay was a potato chip distributor in Nashville, Tennessee, who built a national snack food company.
Where is PepsiCo headquartered?
PepsiCo is headquartered in Purchase, New York, USA. The company's corporate campus in Westchester County, north of New York City, houses its executive offices and many of its North American business units. PepsiCo operates manufacturing facilities and offices across more than 200 countries and territories worldwide.
How many brands does PepsiCo own?
PepsiCo owns more than 23 brands that each generate over $1 billion in annual retail sales. The total brand count is significantly higher when including regional and smaller brands. The portfolio spans beverages (Pepsi, Mountain Dew, Gatorade, Tropicana), snack foods (Lay's, Doritos, Cheetos, Fritos), and cereals (Quaker, Cap'n Crunch, Life).
Who owns PepsiCo?
PepsiCo is a publicly traded company with a dispersed shareholder base. No single shareholder holds a controlling stake. The largest institutional shareholders are Vanguard Group, BlackRock, and State Street. Ramon Laguarta serves as Chairman and CEO, having succeeded Indra Nooyi in 2018.
What is PepsiCo's financial performance?
For FY2025 (ended December 27, 2025), PepsiCo reported net revenue of $93.9 billion, up 2% from $91.9 billion in FY2024. Net income was $8.3 billion, and core EPS was $8.14. Free cash flow was $8.2 billion. The company announced its 54th consecutive annual dividend increase. For FY2026, PepsiCo projects organic revenue growth of 2% to 4% and core constant currency EPS growth of 4% to 6%.
Poppi operates within PepsiCo's corporate sustainability framework. PepsiCo has committed to net zero emissions by 2040 (updated from its original 2050 target) and maintains goals for sustainable agriculture, water conservation, and packaging innovation across its portfolio. These commitments extend to Poppi as part of PepsiCo's PBNA segment.
PepsiCo has set targets for making all packaging recyclable, compostable, or biodegradable. Poppi's aluminum cans are recyclable, though the brand does not publish separate sustainability metrics. Poppi's ingredients, including apple cider vinegar and fruit juices, are sourced through PepsiCo's agricultural supply chain following the company's responsible sourcing standards.
Poppi is not certified organic, non-GMO, or B Corporation certified. The brand does not publish separate sustainability reports. Sustainability performance is reported at the PepsiCo corporate level in the company's annual ESG disclosures.
The brand's core positioning as a "healthier" soda alternative has been subject to legal challenge. In May 2024, a class action lawsuit was filed against VNGR Beverage, LLC (Poppi's legal entity) alleging that the brand's "gut healthy" marketing claims were not scientifically supported. The lawsuit argued that each can contains only 2 grams of prebiotic fiber, which is insufficient to provide meaningful gut health benefits if consumed in typical quantities. In March 2025, the parties reached an $8.9 million settlement agreement, which is pending final court approval. The settlement covers consumers who purchased Poppi products between January 23, 2020, and July 18, 2025. A final approval hearing is scheduled for November 20, 2025. Poppi denied any wrongdoing as part of the settlement.
Poppi's appearance on Shark Tank in 2018 was a significant early milestone, providing national television exposure and investment capital. The brand's subsequent growth from a kitchen startup to over $100 million in annual sales attracted significant industry attention.
The $1.95 billion acquisition by PepsiCo, announced March 17, 2025, and completed May 19, 2025, was widely covered by major business media including Bloomberg, Reuters, and the Wall Street Journal. The acquisition was one of the largest in the functional beverage category and was frequently cited as evidence of major beverage companies' interest in better-for-you brands.
Poppi has been featured in numerous food and beverage industry publications for its role in popularizing the prebiotic soda category. The brand has been covered by Food Navigator, Beverage Daily, and other trade publications as a key player in the functional beverage trend.
Poppi has not experienced any product recalls as of August 2025. However, the brand faced a significant legal challenge related to its health claims marketing.
In May 2024, a class action lawsuit was filed in the U.S. District Court for the Northern District of California against VNGR Beverage, LLC (doing business as Poppi) by plaintiff Kristin Cobbs. The lawsuit alleged false advertising and improper labeling, claiming that Poppi's marketing slogans "Be Gut Happy. Be Gut Healthy" and "For a Healthy Gut" were not scientifically supported. The complaint argued that each can contains only 2 grams of prebiotic fiber, which is "too low to cause meaningful gut health benefits" if consumers drink one can per day. The lawsuit further alleged that consumers would need to drink more than four Poppi sodas daily to realize potential benefits, but that the sugar content would offset those benefits.
In March 2025, the parties reached an $8.9 million settlement agreement. The settlement fund covers consumers who purchased Poppi products between January 23, 2020, and July 18, 2025, for household use in the United States. Consumers with proof of purchase can claim 75 cents per single can, $3 per four-pack, $6 per eight-pack, and $9 per 12-pack or 15-pack. Consumers without proof of purchase can receive a maximum of $16 per household. The minimum payment for approved claims is $5 per household. Claims must be submitted by September 2025, and a final approval hearing is scheduled for November 20, 2025. Poppi denied any wrongdoing as part of the settlement agreement.
The lawsuit and settlement highlighted broader regulatory scrutiny facing functional beverage brands that make health claims. The case underscored the importance of scientific substantiation for health benefit marketing in the rapidly growing functional beverage market.
No direct competitors found in the same category. This could be because Poppioperates in a unique market segment or we're still building our competitor database.
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