Meet Rohan Oza The Mastermind Behind The $1.9 Billion Poppi Deal

Forbes

For years, Rohan Oza made millions for celebrities—including Jennifer Aniston and 50 Cent—on beverage deals. Then in May the ‘Shark Tank’ veteran brokered the blockbuster sale of the prebiotic soda Poppi to Pepsi. And he’s not done yet.  Read the full story on Forbes: https://www.forbes.com/sites/chloesorvino/2025/08/15/meet-rohan-oza-the-mastermind-behind-the-19-billion-poppi-deal/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Today on Forbes, meet the mastermind behind the $1.9 billion poppy deal.

00:08Sitting in his Manhattan office, where hot pink, purple, and orange cans of his soda brand poppy are tacked to the wall like artwork,

00:16Rohan Oza explains how, for the past 20 years, he's been searching for the perfect soft drink.

00:22He says, quote,

00:23The 53-year-old Oza is co-founder of Los Angeles-based private equity firm Cavu Consumer Partners

00:37and was the chairman of prebiotic soda poppy and its single largest individual shareholder

00:43when Pepsi acquired it in May for $1.9 billion.

00:48The poppy deal is Oza's biggest exit yet, but it's far from his first.

00:53He played a key role in some of the largest beverage acquisitions of the past two decades,

00:58including Vitamin Water and Smart Water, $4.1 billion in 2007,

01:03as well as Buy, an antioxidant-infused water that sold for $1.7 billion in 2016.

01:11Oza's role in those deals was a cross between Hitmaker and Matchmaker,

01:15having brought in 50 Cent to Vitamin Water, Jennifer Aniston to Smart Water,

01:20and Justin Timberlake to buy, through equity deals that saw the celebrities driving sales.

01:27Curtis Jackson, better known as 50 Cent, says, quote,

01:31When Rohan and I did the Vitamin Water deal,

01:33it became the blueprint that set the tone for future equity ownership partnerships.

01:37We proved that celebrities could bet on themselves and win big,

01:41and that's exactly what he continues to do.

01:43For Oza, the path to poppy came through one of his frequent appearances on ABC's Shark Tank.

01:50On a 2018 episode, Oza took a 25% stake in the Austin, Texas-based beverage brand,

01:56founded by husband and wife entrepreneurs Stephen and Allison Ellsworth, for $400,000.

02:02The Ellsworths owned an estimated 12% of poppy at the time of the Pepsi sale,

02:07worth about $150 million post-tax.

02:09After he took the 25% stake, Oza changed everything.

02:14He rebranded Mother Beverage, as the Ellsworths had named it, as poppy.

02:19The liquid went from an apple cider vinegar drink to a prebiotic soda,

02:23and the packaging changed from glass to cans.

02:26The branding morphed from farmer's market artisanal to bright millennial-friendly colors.

02:33Leading up to Pepsi's acquisition at a 3.3 times revenue multiple,

02:37Forbes estimates that Oza owned about 21% of poppy, and Kavu owned another 37%.

02:43That netted him some $250 million post-tax directly from the sale,

02:49and another roughly $50 million through Kavu.

02:52Those proceeds, in addition to exits reinvested and his 50% stake in Kavu,

02:57add up to an estimated net worth of roughly $500 million.

03:01Such success, Oza says, represents his own American dream.

03:07An immigrant from Zambia who came to the U.S. in 1995,

03:11and then got an MBA at the University of Michigan,

03:13he now lives in Miami and shuttles between there,

03:16the main Kavu office in Los Angeles, and its other space in New York,

03:20as well as his homes at the Yellowstone Club in Montana,

03:23and on the Caribbean island of Barbuda.

03:25Oza says, quote,

03:28There's no consumer audience in the world that is willing to embrace new brands as rapidly as Americans are.

03:34I came here with a dream.

03:36It's full circle.

03:38Growing up in Livingstone, Zambia, Oza was a devout soda drinker.

03:43After graduating from the United Kingdom's University of Nottingham,

03:46Oza started working for candy maker Mars on its Snickers brand in 1992.

03:51But his boss took him off the management track, telling the then-22-year-old he was, quote,

03:56Not sure that marketing is your thing.

04:00Oza returned to Zambia defeated before heading to Michigan.

04:03But he says, quote,

04:04If you truly believe, you've got to double down and power through it.

04:09His next chance came in Atlanta, where he worked at Coca-Cola,

04:13marketing Sprite and later Powerade, his first time leading a brand.

04:16The turnaround he engineered, from Powerade sales declining 15% the year before he took over in 2001,

04:24to growing 35% the next year,

04:26got him noticed by Vitamin Water, which had $35 million in revenue.

04:31As Vitamin Water's new CMO, he called 50 Cent to see if he might promote the beverage.

04:37The rap star wanted his own flavor.

04:38Formula 50's debut in 2004 doubled sales to $160 million within a year.

04:4650 Cent received an estimated 2% ownership stake.

04:51For full coverage, check out Chloe Sorvino's piece on Forbes.com.

04:57This is Kieran Meadows from Forbes.

04:59Thanks for tuning in.

05:08Thanks for tuning in.

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