Coca-Cola Pursuing Acquisition of Poppi
Coca-Cola (NYSE:KO) is reportedly among the potential suitors pursuing the acquisition of the healthy soda brand Poppi.
Interest from Multiple Suitors
The beverage giant is not the sole entity showing interest in acquiring the company. According to a recent Bloomberg report, there are additional suitors in the running for the purchase of Poppi.
Poppi’s Market Presence
While the acquisition is yet to be finalized, Poppi has established a significant presence in the market. It has claimed the top-selling position for soda on Amazon and is retailed by major outlets including Target, Costco, Kroger, and Whole Foods.
Engagement Following Super Bowl Advertisement
Poppi’s recent 60-second commercial during the Super Bowl has led to an impressive 1561% surge in online engagement, according to data from EDO. This underscores the brand’s growing appeal to consumers.
Founding and Funding
Founded in 2015 by Stephen and Allison Ellsworth, Poppi secured a substantial $25M in its Series B funding round in 2022, signifying investor confidence in the company’s potential for growth.
Prebiotic Soda Market
Poppi operates in the prebiotic soda category, which is still relatively small and subject to debate regarding its health benefits. However, it is a space that has piqued the interest of major players in the beverage industry.
Competition in the Prebiotic Soda Segment
Reports from the previous year suggest that both Coca-Cola and PepsiCo had expressed interest in a similar prebiotic soda brand, Olipop. This indicates a broader trend of major beverage companies eyeing opportunities in the prebiotic soda market.