Energy drink maker Celsius is paying $1.8 billion to buy rival Alani Nu, a brand that has been propelled by social-media influencers and pitches itself as a low-cal fitness aid.

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,

Investors appear reassured by the company's potential growth prospects, given its record full-year revenue and its acquisition of a rival energy drink brand.