Keurig Dr Pepper spends $863M for stake in C4 Energy maker

Keurig Dr Pepper is buying a 30% stake in Nutrabolt, the maker of energy drinks such as C4 Energy and Xtend Energy, for $863 million, the companies said in a statement. The transaction is expected to close this month. As part of the deal, Keurig Dr Pepper and Nutrabolt entered into a long-term sales and distribution agreement. Keurig Dr Pepper has the opportunity to earn additional equity tied to in-market execution, and it will have representation on the Nutrabolt board. While Keurig Dr Pepper is best known for its two namesake liquids, the Texas-based firm has been actively purchasing stakes in a diverse range of beverage upstarts, or acquiring brands outright, to better position its portfolio to changing consumer trends.