For a deal valued at $3.2 billion, PepsiCo Inc is acquiring the Israel-based SodaStream. SodaStream is known for making fizzy home carbonation products.
SodaStream will be acquired by PepsiCo for $144 per share in cash.
In a statement, PepsiCo Chairman and CEO Indra Nooyi said, “PepsiCo and SodaStream are an inspired match. Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated.”
Adding, “That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more sustainable planet.”
SodaStream CEO and Director Daniel Birnbaum said, “Today marks an important milestone in the SodaStream journey. It is a validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world.”
Adding, “We are honored to be chosen as PepsiCo’s beachhead for at home preparation to empower consumers around the world with additional choices. I am excited our team will have access to PepsiCo’s vast capabilities and resources to take us to the next level. This is great news for our consumers, employees and retail partners worldwide.”
The next CEO & President of PepsiCo Ramon Laguarta said, “SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio while catalyzing our ability to offer personalized in-home beverage solutions around the world.”
Adding, “From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for foodservice and Aquafina water stations for workplaces and colleges, PepsiCo is finding new ways to reach consumers beyond the bottle, and today’s announcement is fully in line with that strategy.”
Board of Directors of both the companies have unanimously approved the acquisition.