PepsiCo. has agreed to purchase popular prebiotic soda brand Poppi for a net price of $1.65 billion, the beverage company announced.

Pepsi’s acquisition of Poppi signals a growing interest among beverage companies and in drinks that promote health and wellness

PepsiCo Inc. will acquire healthier soda brand Poppi for $1.95 billion, the Purchase, New York-based soda giant announced on Monday, confirming an earlier Bloomberg News report. The deal includes $300 million in expected cash tax benefits for a net purchase price of $1.

Global beverage giant Pepsi is adding another brand to its portfolio. On Monday, Pepsi announced it will acquire the probiotic soda company Poppi in a $1.95 billion deal, according to the Associated Press.

Monday it will pay about $1.7 billion for a soft-drink company that built up a social-media following after being featured on “Shark Tank,” as the beverage giant works to appeal to millennials and Gen Z with healthier offerings.

PepsiCo said Monday it’s acquiring the prebiotic soda brand Poppi for $1.95 billion. The acquisition gives PepsiCo a fast-growing brand in the popular functional beverage category. “More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness,