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PepsiCo Inc. said it will invest $585 million in Celsius Holdings Inc. by purchasing newly issued convertible preferred shares that pay a 5% dividend, lifting its ownership in the fast-growing energy-drink maker to about 11%. The cash infusion deepens a strategic partnership that already puts PepsiCo’s distribution network behind Celsius beverages. Both companies said the deal will accelerate marketing and widen shelf space for the brand as competition in the energy-drink category intensifies. Celsius shares rose about 7.6% in pre-market New York trading after the announcement, while PepsiCo shares were little changed. The companies expect the transaction to close this quarter, subject to customary conditions.
