Celsius is paying $1.8 billion in both cash and stock to buy rival Alani Nu, reported the Wall Street Journal.

“The deal, which includes a net purchase price of $1.65 billion and $150 million in tax assets, is Celsius’s largest acquisition since it was founded two decades ago. Celsius had a market value of roughly $6 billion after its shares closed, down 2.2% at $25.53 on Thursday,” wrote the WSJ.

Founded in 2018 by fitness influencer Katy Hearn, Alani Nu sells energy drinks, supplements and protein drinks and is based out of Louisville, Kentucky. The company has built its brand largely through partnerships with influencers. Both brands have pitched themselves as fitness aids and have developed a following of young women, said WSJ.

In November, Celsius Holdings Inc. acquired Big Beverages Contract Manufacturing for $75 million. The transaction included a 170,000-square-foot manufacturing and warehouse facility that is “expected to provide greater supply chain control, quicker innovation cycles and greater production flexibility.”

Other suppliers are also heavily investing in the energy drink market. Anheuser-Busch and 1st Phorm, a sports nutrition and supplements company, announced plans to form a new partnership aimed at driving innovation in the energy drinks and related beverage segments last month. In October, Keurig Dr Pepper entered into a definitive agreement to acquire Ghost Lifestyle LLC. and Ghost Beverages LLC. Ghost was founded in 2016 and is a lifestyle sports nutrition business with a portfolio anchored by Ghost Energy, a ready-to-drink energy brand.