PepsiCo announced an investment of $550 million in energy drink maker Celsius Holdings on Monday. It is supposed to be a part of the long-term distribution deal with the company. This investment could be translated to a minority stake of roughly 8.5% in the company.

Founded in 2005, Celsius, had explosive growth for its energy drinks, especially during the COVID-19 pandemic. Its U.S revenue in the first quarter soared up to $123.5 million. The company is expecting to gain more shelf space in retailers and further expand its visibility to independent stores and gas stations. PepsiCo would help the company in distribution starting from Monday.

The deal has helped Pepsi strengthen its ties with energy drinks and Celsius to increase its market share in the energy drink category.