Davis Polk is advising PepsiCo on the U.S. antitrust and tax aspects of its acquisition of Rockstar Energy Beverages for $3.85 billion and future payments in respect of tax benefits resulting from the transaction. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the first half of 2020. 
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. Rockstar, founded in 2001, produces beverages that are designed for those who lead active lifestyles from athletes to rock stars. Rockstar products are available in over 30 flavors at convenience and grocery outlets in over 30 countries.
The Davis Polk antitrust and competition team includes partners Jon Leibowitz and Jesse Solomon and associates Benjamin M. Miller and Sybil E. Sam. The tax team includes partner William A. Curran and associates Joshua J. Micelotta and Rebecca A. Rosen. Members of the Davis Polk team are based in the Washington DC and New York offices.