Purchase, N.Y.-based PepsiCo Inc. announced that it has entered into a definitive agreement to acquire Oxnard, Calif.-based KeVita, a producer of fermented probiotic and kombucha beverages. The transaction will expand PepsiCo's health-and-wellness offerings in the premium chilled beverage space, the company says.  

"I am pleased to welcome KeVita into the PepsiCo family. Under the leadership of CEO Bill Moses, KeVita has become an innovative, high-growth brand that is transforming the functional beverage space," said Chris Lansing, general manager and vice president of PepsiCo Premium Nutrition, in a statement. "This announcement is further evidence of PepsiCo's focus on delivering Performance with Purpose by continuing to evolve our health-and-wellness offerings to meet consumers' changing needs."

KeVita is a leader in fermented probiotic and kombucha beverages with three product lines and live probiotics in every bottle. With more than two dozen flavors of Sparkling Probiotic Drink, Master Brew Kombucha and Apple Cider Vinegar Tonic, all of KeVita’s drinks are certified organic, non-GMO, gluten-free and vegan, the company says. KeVita has a loyal and rapidly growing consumer base in the fast growing functional beverage space, it adds.

"Joining the PepsiCo family will give us an opportunity to extend KeVita's trend-forward beverages to a broader audience, while staying committed to our core values," said Bill Moses, chief executive officer and co-founder of KeVita, in a statement. "We're looking forward to more consumers experiencing the KeVita brand and to leveraging PepsiCo's marketing and distribution capabilities."

Upon closing, which is subject to regulatory approval, KeVita will continue to operate independently with its production and bottling facilities in Oxnard, Calif.