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."