PepsiCo is in advanced talks to buy healthier soda brand Poppi in a deal worth more than $1.5 billion, Bloomberg News reported Friday, citing people with knowledge of the matter.

The soda and snacks giant could announce the deal as soon as next week, the report said. While deliberations are at a late stage, they could still be delayed, it said.

Poppi, based in Austin, Texas, was founded by Allison Ellsworth and Stephen Ellsworth.

PepsiCo and Poppi did not immediately respond to Reuters' requests for comment.