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.

Celsius’ sudden notice that the energy drink maker will report earnings and participate in a conference was viewed as positive by investors.