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PepsiCo to acquire prebiotic soda brand
PepsiCo has announced that it has entered into a definitive agreement to acquire poppi, a fast-growing prebiotic soda brand, for US $ 1.95 billion, including US $ 300 million of anticipated cash tax benefits for a net purchase price of US $ 1.65 billion. base and driven rapid growth. poppi was created by Allison and Stephen Ellsworth, discovered on Shark Tank by Rohan Oza and funded by CAVU Consumer Partners from their initial seed round to today.
The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction.
“ We’ ve been evolving our food and beverage portfolio over many years, including by innovating with our brands in new spaces and through disciplined, strategic acquisitions that enable us to offer more positive choices to our consumers,” said Ramon Laguarta, Chairman and CEO, PepsiCo.“ 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. poppi is a great complement to our portfolio transformation efforts to meet these needs.”
poppi is a fast-growing functional soda brand that combines prebiotics, fruit juice and apple cider vinegar to create a deliciously refreshing low calorie soda with no more than five grams of sugar per serving. poppi’ s consumer-first approach, cultural cache and nutritional profile have nurtured a loyal fan
Tesco gives employees a pay rise but removes Sunday bonus
Tesco has reached an agreement with trade union USDAW that will increase the hourly pay rate for colleagues in stores, from £ 12.02 to £ 12.45 from March 30, and again to £ 12.64 from the end of August.
This two-stage rate increase represents an above-inflation increase of 5.2 % and builds on the significant investment Tesco has made in colleague pay and benefits in recent years.
From April 2025, the minimum wage for aged 21 + is £ 12.21.
This latest £ 180 million investment in colleague pay will mean hourly-paid colleagues will have seen a pay increase of 32 % since April 2022, equivalent to a more than £ 900 million investment.
Tesco remains one of the few supermarkets to recognise an independent trade union and negotiate pay rates with them for all its hourly-paid colleagues in the UK.
As part of this pay deal for colleagues, Tesco will also be making the following changes:
• The London allowance will increase to £ 1.21, up 7.1 %, taking rates from £ 13.15 per hour to £ 14.36 per hour
• To bring Tesco in line with other retailers, it will be removing Sunday premium payments, with eligible colleagues receiving a one-off payment. Bank Holiday premiums will be retained
• Providing Colleague Clubcard discount with no cap for colleagues and their second Clubcard holder, replacing the previous £ 2,000 allowance
• Increasing the maximum company sick pay entitlement to 20 weeks for eligible colleagues
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