Pepsi is making a $550 million dollar investment in Celsius Holdings, an energy drink maker. Energy drinks are one of the fastest growing non-alcoholic beverage categories. Celsius had its revenue skyrocket by 217% in the first quarter, to $123.5 million. Celsius shares rose 8% in the trading on the news, to bring the company to a $6.7 billion dollar market cap. Pepsi now owns about 8.5% of the company.
Source: https://www.cnbc.com/2022/08/01/pepsico-takes-550-million-stake-in-energy-drink-maker-celsius-.html
