Celsius Holdings, Inc. ( CELH ) stock is trading higher on Friday after the company reported better-than-expected fourth-quarter earnings on Thursday and announced an agreement to acquire Alani Nutrition.

The Details: Celsius reported adjusted earnings per share of 14 cents, beating analysts’ estimate of 11 cents. In addition, the company reported sales of $332.20 million, beating analysts’ estimate of $327.97 million, but representing a 4% decrease year-over-year.

Celsius attributed the sales decline to the negative impact of higher domestic allowances from various programs, including the distributor incentive program.

The company also announced it will acquire Alani Nutrition LLC for $1.8 billion, which includes $150 million in tax assets, making the net purchase price $1.65 billion. Celsius expects the acquisition to generate $2 billion in sales and be cash EPS accretive in its first year.

John Fieldly, Chairman and CEO of Celsius, said, “We have deep respect for the strong community of supporters and fans Alani Nu has developed and the authentic brand and partnerships they have formed. Together, we expect to broaden the availability of Alani Nu’s functional products to help more people achieve their wellness goals with great-tasting, functional product options at more moments throughout their lives.”

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CELH Price Action: At the time of publication, Celsius stock is trading 33.6% higher at $34.11, according to data from Benzinga Pro.

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