Pepsi to Buy Rockstar for $3.85 Billion in Energy Drink Push (2)

PepsiCo Inc. agreed to buy energy-drink maker Rockstar Inc. for $3.85 billion as the U.S. soft drink and snacks giant seeks to expand its beverage range amid waning appetite for traditional sodas.

The deal is one of the first strategic moves by PepsiCo Chief Executive Officer Ramon Laguarta since he took over from Indra Nooyi in 2018. Pepsi and Las Vegas-based Rockstar have had a distribution agreement in North America since 2009.

Pepsi and rival Coca-Cola Co. have been racing to expand their lineups of faster-growing drinks as consumers shun sugary beverages. Pepsi’s energy portfolio already includes Mountain Dew’s Kickstart, ...