PepsiCo said to near $3.85bn deal to buy Rockstar Energy Beverages

PepsiCo Inc. is reportedly nearing a deal to buy Rockstar Energy Beverages.

The Wall Street Journal cited people familiar with the matter as saying that a transaction could be announced as early as Wednesday, as the beverage giant looks to increase its presence in the energy drink category.

It was understood that PepsiCo will pay $3.85bn for Rockstar.