PepsiCo to buy probiotic drinks maker KeVita

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 flavors 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.