By Ananya Mariam Rajesh (Reuters) - Celsius Holdings said on Thursday it would buy health and wellness drinks brand Alani Nutrition in a $1.8 billion deal through a combination of cash and stock, boosting its portfolio to build on the growing demand for sports and energy beverages.

The purchase allows Celsius to add a fast-growing beverage popular with young women while better positioning it to compete against rivals Red Bull and Monster.

The purchase price consideration comprises $1,275 million of cash and a $25 million earn-out and $500 million (or approximately 22.5 million shares) of newly issued restricted shares of Celsius Holdings common stock,