PepsiCo Is Said Near $1.5 Billion-Plus Deal for Soda Brand Poppi

PepsiCo Inc. is in advanced talks to buy healthier soda brand Poppi, according to people with knowledge of the matter.

The Purchase, New York-based beverage giant could announce the transaction as soon as next week, said one of the people, who asked not to be identified discussing confidential information. The purchase price under discussion is more than $1.5 billion, the person said.

PepsiCo had planned to launch its own so-called functional soda under the brand Soulboost, but decided to scrap that effort because of early indicators it wouldn’t succeed.

Poppi Soda cans.

Photographer: Eugene Gologursky/Getty Images

While deliberations are at a late stage, they could ...