PepsiCo System to Distribute Alani Nu as Soda Giant Ups its Celsius Stake

Dear Client:  PepsiCo and Celsius Holdings have announced this morning that the soda giant will up its stake in Celsius to about 11%, via a 5% purchase of Celsius preferred stock, worth $585 million. Recall, PepsiCo initially took an 8.5% stake in the company back in 2022, for $550 million [see BBD 08-01-2022]. PepsiCo will nominate an additional director to serve on Celsius Holdings' board.  Part of the end game certainly seemed for Pepsi to distribute the fast-growing Alani Nu,