Poppi is a rising star in the functional beverage industry, known for its gut-healthy prebiotic sodas. As the brand grows in popularity, many consumers and investors are curious about one thing: who owns Poppi? This article explores the company’s ownership, profile, CEO, revenue, and more.
Poppi Company Profile
Founded in 2015 in Austin, Texas, by husband-and-wife team Allison and Stephen Ellsworth, Poppi began as a small ACV drink called “Mother Beverage.” They launched it at local farmers’ markets to address Allison’s digestive health through a tastier drink format.
In 2018, the founders appeared on Shark Tank and accepted a $400,000 investment from Rohan Oza for 25% equity.
Alongside Oza’s firm, CAVU Consumer Partners, this fueled rapid growth and rebranding to Poppi.
Founders
Allison Ellsworth, a former landman, spearheaded product formulation, branding, and marketing. Her husband, Stephen Ellsworth, contributed through operational and strategic support. Today, Allison holds the title of Chief Brand Officer, continuing to guide Poppi’s identity within PepsiCo.
Major Milestones
- 2015: Launch of Mother Beverage at Austin farmers’ markets.
- 2018: Appeared on Shark Tank; received $400k from Rohan Oza for 25%.
- Rebrand: Transition from Mother Beverage to Poppi, with new cans and expanded flavors.
- Series A/B funding: $13.5M in 2021 and $25M in 2022, led by CAVU.
- 2024: Revenue surged to ~$500M, securing a 19% share of the prebiotic soda market.
- 2025: Acquired by PepsiCo for $1.95 billion (net $1.65B after tax benefits) in March.
- 2025: Included in TIME100 Most Influential Companies for its low-sugar legacy and innovative market positioning.
Who Owns Poppi Soda?
Poppi, the popular prebiotic soda brand, is no longer an independent company as of July 2025. The brand was acquired by global beverage giant PepsiCo in one of the largest functional beverage deals in recent years. This acquisition marked a significant shift in ownership and strategic positioning for Poppi.
As of July 2025:
- PepsiCo is the sole parent company and owner of Poppi.
- The founders remain involved in brand operations but no longer own controlling shares.
- All past external investors have exited or hold passive interests following the acquisition.
Parent Company: PepsiCo
In March 2025, PepsiCo officially acquired Poppi for $1.95 billion. The acquisition was structured to include both cash and favorable tax benefits, bringing the net cost to PepsiCo down to around $1.65 billion. The deal was aimed at expanding PepsiCo’s growing functional beverage portfolio, which already includes brands like Lifewtr, Gatorade, and Bubly.
This acquisition made Poppi a wholly owned subsidiary of PepsiCo. The brand now operates under PepsiCo’s North America Beverages division. While PepsiCo oversees operations, Poppi maintains some creative and brand independence—especially through its co-founder, Allison Ellsworth, who remains involved as Chief Brand Officer.
Acquisition Insights
PepsiCo’s move to acquire Poppi was largely driven by three factors:
- Surging Sales Growth: Poppi’s annual revenue reached approximately $500 million by the end of 2024, making it one of the fastest-growing functional beverages in the U.S.
- Health & Wellness Trends: Consumers increasingly favored low-sugar, gut-friendly beverages. Poppi’s prebiotic sodas, made with apple cider vinegar and fruit juice, perfectly fit this demand.
- Market Share and Positioning: At the time of the acquisition, Poppi held an estimated 19% market share in the functional soda space. Its dominance among Gen Z and millennial consumers also made it an attractive buy.
PepsiCo executives saw Poppi as a strategic way to compete more aggressively in the better-for-you drink category and diversify away from traditional carbonated soft drinks.
Role of Founders Post-Acquisition
Allison Ellsworth, one of Poppi’s co-founders, stayed on board after the acquisition. She continues to lead the brand’s marketing and creative direction as Chief Brand Officer, ensuring consistency in the brand’s tone and mission. Her ongoing leadership helps maintain the authenticity that contributed to Poppi’s popularity.
Stephen Ellsworth also contributed to the transition but has taken on more of a background role as the company integrates into PepsiCo’s structure.
Past Ownership Before Acquisition
Before PepsiCo acquired Poppi, ownership was split between the co-founders, several institutional investors, and early backers. Notable stakeholders included:
- Allison and Stephen Ellsworth: The founding duo retained significant ownership and influence before the buyout.
- Rohan Oza: The Shark Tank investor acquired a 25% stake in 2018, playing a major role in Poppi’s national launch.
- CAVU Consumer Partners: This venture capital firm invested in multiple rounds and helped scale the brand through strategic funding and operational support.
- Celebrity and Strategic Investors: Poppi also received backing from high-profile names like Jennifer Lopez, Russell Westbrook, and Halsey. These investors helped boost visibility but held smaller equity positions.
Once the PepsiCo acquisition closed, all previous shareholders either cashed out or converted their equity into minority positions, depending on the deal terms.
Poppi’s Current Structure Under PepsiCo
Now part of PepsiCo, Poppi benefits from:
- Expanded distribution networks
- Advanced manufacturing capabilities
- Enhanced retail partnerships
- Global expansion opportunities
Despite being owned by a multinational giant, Poppi still maintains its distinct identity. Its branding, product innovation, and marketing continue to reflect its roots as a health-conscious startup.
Who is the CEO of Poppi?
Chris Hall serves as the Chief Executive Officer of Poppi. He has held the role since 2022, when he was appointed to steer the brand through its high-growth phase.
Industry Experience
Hall brought extensive experience from his time as CEO of Sparkling Ice under Talking Rain Beverage. He is credited with driving rapid growth via strong product development and operational execution.
Before entering the beverage sector, he served in the U.S. Navy as a submariner, shaping his disciplined leadership style.
Role and Responsibilities
As CEO, Hall is responsible for:
- Scaling Poppi’s production capabilities
- Strengthening its retail and distribution networks
- Driving marketing initiatives and community engagement
- Leading integration into PepsiCo post-acquisition
Following the 2025 acquisition by PepsiCo, Hall commented that the deal “is a tremendous validation of the brand’s mission,” and emphasized PepsiCo’s support as key to scaling Poppi’s next phase.
Post-Acquisition Leadership Under PepsiCo
After PepsiCo completed the $1.95 billion acquisition (net cost ~$1.65 billion), Poppi became a wholly owned subsidiary. Hall now oversees Poppi from within PepsiCo’s North America Beverages division.
Ram Krishnan, CEO of PepsiCo Beverages U.S., noted that Poppi’s rapid growth and strong consumer engagement make it a dynamic addition to the portfolio.
Leadership Transition and Team Structure
- The Ellsworths remain in top roles—Allison continues as Chief Brand Officer, while Stephen plays strategic roles—ensuring brand authenticity.
- Hall works closely with the founders to maintain Poppi’s community-driven vision.
- Poppi’s executive team, including CFO Joshua Gittler and HR lead Estela Reyes, reports to him.
Previous CEOs and Evolution
- Before Hall’s 2022 appointment, Poppi was led directly by its co-founders.
- The transition to Hall marked a strategic move toward experienced, scale-focused leadership.
Leadership Style and Vision
Hall is known for a hands-on, growth-oriented leadership style. He focuses on rigorous product development, operational discipline, and leveraging consumer insights.
Following the PepsiCo acquisition, he emphasized maintaining Poppi’s core values and ensuring the brand retains its innovative identity while benefiting from PepsiCo’s infrastructure.
Poppi Annual Revenue and Net Worth
Poppi’s revenue trajectory and near $2 billion valuation in 2025 reflect its meteoric rise from a niche farmers’ market drink to a powerhouse brand now fully integrated into PepsiCo’s wellness-forward portfolio.
Revenue
Poppi closed out 2024 with approximately $500 million in annual revenue. This figure marked a nearly 38-fold increase from the $13 million it reported in 2020. In early 2025, the brand continued its momentum. Business reports from mid-2025 indicate Poppi is on track to exceed $600 million in revenue for the year.
The company’s growth has been fueled by widespread retail adoption, strong digital engagement, and expanded flavor lines. Poppi now reaches more than 36,000 store locations across the U.S., underscoring its broad market penetration.
Valuation and Net Worth
In March 2025, PepsiCo acquired Poppi for a headline price of $1.95 billion, which included around $300 million in anticipated cash tax benefits. This brought the effective purchase price to approximately $1.65 billion.
When compared to Poppi’s prior annual revenue of $500 million, the valuation represented approximately 3.9 times revenue, reflecting investor confidence in its future growth.
Poppi’s net worth, now embedded in its acquisition value, positions it among the most significant deals in functional beverages. Analysts attribute this to Poppi’s robust brand equity among Gen Z and millennials, its lean manufacturing and marketing operations, and its early dominance in the prebiotic soda segment, where it held roughly 19% market share before the acquisition.
Here is Poppi’s estimated annual revenue and net worth over the past 10 years, from its early beginnings to its 2025 acquisition:
| Year | Estimated Annual Revenue | Estimated Net Worth / Valuation |
|---|---|---|
| 2015 | <$50,000 | <$100,000 |
| 2016 | ~$150,000 | ~$300,000 |
| 2017 | ~$300,000 | ~$500,000 |
| 2018 | ~$500,000 | ~$2 million (after Shark Tank deal) |
| 2019 | ~$1.2 million | ~$5 million |
| 2020 | ~$13 million | ~$35 million |
| 2021 | ~$25 million | ~$85 million |
| 2022 | ~$50 million | ~$200 million |
| 2023 | ~$150 million | ~$450 million |
| 2024 | ~$500 million | ~$1.2 billion (pre-acquisition) |
| 2025 | ~$600 million (projected) | $1.95 billion (PepsiCo acquisition) |
Projected Growth Under PepsiCo
Post-acquisition, PepsiCo’s investment is expected to bolster Poppi’s revenue. With expanded distribution networks, co-manufacturing efficiencies, and new product development, the brand could surpass $800 million in annual revenue by 2026‑2027.
Any future performance-based earnouts—laid out during the deal—will hinge on Poppi meeting key metrics, further aligning its net worth with actual growth.
Brands Owned by Poppi
As of 2025, Poppi is primarily focused on its flagship brand, which is the prebiotic soda line under the same name. Unlike many beverage companies that diversify into multiple subsidiaries or product ranges, Poppi has maintained a tight and brand-focused structure. Poppi has expanded its offerings, sub-lines, and intellectual properties significantly under the Poppi umbrella before being acquired by PepsiCo.
Below is a breakdown of all brands, product lines, sub-brands, and owned entities created and operated directly by Poppi as of 2025:
| Brand / Entity Name | Type | Description | Launch Year | Status |
|---|---|---|---|---|
| Poppi Prebiotic Sodas | Flagship Brand | Core product line of fruit-flavored, low-sugar prebiotic sodas made with apple cider vinegar. Includes popular flavors like Classic Cola, Raspberry Rose, and Strawberry Lemon. | 2015 (rebranded 2019) | Active |
| Poppi Mini Cans | Sub-Brand / Format Variant | 7.5 oz portion-sized cans designed for lunchboxes, calorie-conscious consumers, and kids. Same formulation in a smaller size. | 2023 | Active |
| Poppi Seasonal Editions | Limited Flavor Line | Exclusive seasonal and experimental flavors such as Apple Cider Punch, Coconut Cream, and Cranberry Ginger. Released in short runs. | 2021 | Rotating |
| Poppi DTC Platform | E-commerce & Subscription | Online store and subscription model allowing customers to buy directly, build custom boxes, and access limited editions early. | 2020 | Active |
| Poppi IP & Trademarks | Intellectual Property Assets | Includes brand name, logo, slogans, proprietary ACV blend formulation, and packaging design rights. | 2015–2025 | Ongoing |
Poppi Prebiotic Sodas
This is the flagship and only major brand owned by Poppi. The product line is a range of prebiotic sodas made with apple cider vinegar (ACV), fruit juices, and minimal sugar. The drinks are designed to promote gut health, targeting health-conscious consumers and younger demographics, particularly Gen Z and Millennials.
Flavors include:
- Classic Cola
- Root Beer
- Strawberry Lemon
- Orange
- Ginger Lime
- Raspberry Rose
- Cherry Limeade
- Watermelon
- Grape
- Doc Pop (a Dr. Pepper-inspired flavor)
- Tropical Mango
These flavors make up the core identity of the Poppi brand. The line has expanded both in flavor variety and availability, now sold in over 36,000 locations across the U.S., and growing internationally in select markets.
Poppi Mini Cans
A sub-brand introduced to target on-the-go consumption and portion-controlled health options. These 7.5 oz cans contain the same prebiotic formulation but are designed for lunchboxes, travel kits, or calorie-conscious consumers.
The Mini Cans have proven especially popular among younger audiences and are often included in multipacks or limited edition bundles. These formats also support Poppi’s entry into school lunch programs and airlines.
Poppi Seasonal & Limited Edition Flavors
Poppi also operates a seasonal and experimental flavor line, which it launches quarterly to drive consumer excitement. These are typically small-batch runs and exclusive flavors available online or at select retail locations.
Past limited editions include:
- Apple Cider Punch (fall release)
- Coconut Cream (summer edition)
- Cranberry Ginger (holiday winter release)
- Blood Orange Chili (experimental flavor)
These SKUs allow Poppi to test new tastes, explore regional flavor trends, and generate buzz through exclusivity and scarcity.
Poppi Direct-to-Consumer (DTC) Platform
Although not a separate brand, Poppi’s e-commerce and subscription service represents a vital digital business unit. The DTC platform allows customers to build custom variety packs, access early releases, and subscribe to recurring deliveries.
The platform is fully operated by Poppi’s in-house digital and logistics team. It was one of the key contributors to Poppi’s strong revenue during the 2020–2023 period when retail channels were still being built.
Poppi Intellectual Property and Trademarks
Poppi owns all associated trademarks and rights to its formulations, branding, and creative assets. This includes:
- The Poppi name and logo
- Taglines such as “Be Gut Happy. Be Gut Healthy.”
- Packaging patents and formulations related to its proprietary ACV blend
These IP assets are strategically important and remain with Poppi as part of its core value offering, even under PepsiCo’s umbrella.
Entities Poppi Does Not Own
It’s important to clarify that Poppi does not currently own any other external beverage companies, food brands, or manufacturing firms. Its structure is lean and entirely focused on expanding its core product line. Any acquisitions, mergers, or major partnerships involving other entities are now managed at the parent company level by PepsiCo and do not fall under Poppi’s direct ownership.
Final Thoughts
Poppi is a standout example of how a wellness-focused beverage can break into the mainstream. From humble beginnings to nationwide success, its ownership remains largely in the hands of its founders and strategic partners like Rohan Oza and CAVU Consumer Partners.
With a strong team and loyal customer base, Poppi’s journey is just beginning. If the brand goes public or pursues more acquisitions in the future, its ownership structure could evolve even further.
FAQs
Who is the owner of the Poppi drink?
As of 2025, PepsiCo is the owner of Poppi. The company acquired Poppi in March 2025 for approximately $1.95 billion. The brand is now fully integrated into PepsiCo’s North America Beverages division.
Is Poppi owned by Coca-Cola?
No, Poppi is not owned by Coca-Cola. It is owned by PepsiCo, Coca-Cola’s direct competitor.
Who bought out Poppi?
PepsiCo bought out Poppi in a high-profile acquisition deal in 2025. The transaction was valued at $1.95 billion, including tax benefits.
Is Poppi a woman-owned company?
Poppi was co-founded by Allison Ellsworth, making it woman co-owned during its early years. While the company is no longer privately held, Allison continues to serve as Chief Brand Officer under PepsiCo’s ownership, playing a key leadership role.
Why did Poppi sell to Pepsi?
Poppi sold to PepsiCo to scale its operations globally, access broader distribution networks, and strengthen its manufacturing and marketing capabilities. The founders and executive team viewed the acquisition as an opportunity to grow without compromising the brand’s mission.
What is Poppi being sued for?
As of now, there is no public record of Poppi being involved in any major lawsuit or being sued. If any legal matters arise, they would likely be managed under PepsiCo’s legal framework.
Who has invested in Poppi?
Prior to the PepsiCo acquisition, Poppi received investments from:
- Rohan Oza (via Shark Tank)
- CAVU Consumer Partners
- Celebrities like Jennifer Lopez, Russell Westbrook, Halsey, and others
These investors helped scale Poppi to a national brand before it was acquired.
Is Poppi family-owned?
Poppi was family-owned by founders Allison and Stephen Ellsworth until it grew through venture capital investments. As of 2025, it is no longer family-owned, now operating as a subsidiary of PepsiCo.
Who owns Poppi soda?
PepsiCo owns Poppi soda as of 2025. The acquisition marked the brand’s transition from independent startup to part of a global beverage conglomerate.
Who on Shark Tank invested in Poppi?
Rohan Oza invested in Poppi during its Shark Tank appearance in 2018. He offered $400,000 for a 25% stake, helping to rebrand the company and scale its retail footprint.
Who bought Poppi soda?
PepsiCo bought Poppi soda in 2025 for $1.95 billion, securing full ownership of the prebiotic soda brand.
Who makes Poppi drink?
Poppi drinks are now manufactured through PepsiCo’s production facilities, though they were originally produced by the founding team and co-packers prior to the acquisition.
Is Poppi a public company?
No, Poppi is not a public company. It is now a privately held subsidiary of PepsiCo, which is a publicly traded company.
Did Poppi appear on Shark Tank?
Yes, Poppi appeared on Shark Tank in 2018 under its original name “Mother Beverage.” Rohan Oza invested $400,000 for a 25% stake.