The deal adds a fast-growing brand popular with young women to Celsius’s product line as its own growth slows.

(Reuters) - Celsius is set to acquire rival energy drink brand Alani Nu for $1.8 billion, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Celsius is expected to fund the deal through a combination of cash and stock, the people familiar with the negotiations told the Wall Street Journal.

Celsius Holdings said on Thursday it would buy energy drink brand Alani Nutrition in a $1.8 billion deal through a combination of cash and stock. The deal includes a net purchase price of $1.65 billion and $150 million in tax assets.

Adds Celsius confirmation. Celsius Holdings confirmed that it's buying rival energy drink brand Alani Nu for $1.8 billion. Celsius shares jumped 18% in after hours trading amid the deal news and as Q4 results beat estimates.