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PepsiCo to buy probiotic drinks maker KeVita

Reuters

(Reuters) - PepsiCo Inc (PEP.N) said on Tuesday it would buy health beverage maker KeVita Inc, in an effort to diversify its soft drinks business and tap health conscious consumers.

California-based KeVita offers more than two dozen flavours of probiotic drinks, and all its drinks are certified organic, gluten-free and vegan, PepsiCo said in a statement.

Financial terms of the deal were not disclosed.

Earlier on Tuesday, soft-drinks maker Dr Pepper Snapple Group Inc (DPS.N) said it would buy antioxidant beverages maker Bai Brands LLC for $1.7 billion.

Reuters reported last month that Pepsi was nearing a deal to buy KeVita.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)