PepsiCo completes acquisition of SodaStream for $3.2bn
Multinational food and beverage corporation PepsiCo announced today that it had completed its acquisition of Israeli manufacturing and beverage company SodaStream. The purchase, which was announced in August, was finalized today, with PepsiCo paying the agreed rate of US$144 per share for SodaStream. The total cost is reported as $3.2bn.
According to a press release, “the transaction is another step in PepsiCo's Performance with Purpose journey, supporting health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions, and the company's Beyond the Bottle strategy to form a more sustainable beverage ecosystem.”
SodaStream’s flagship beverage carbonation equipment is expected to play a central role in PepsiCo’s ongoing research and development into healthier, more environmentally sustainable beverage manufacturing.
PepsiCo CEO, Ramon Laguarta, said to the press: "With its customizable options, SodaStream empowers consumers to personalize their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace. Together with SodaStream, I'm confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future."
"I couldn't be prouder or more excited to welcome SodaStream to the PepsiCo family”.
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PepsiCo reported a net revenue of over $63bn in 2017. Its food and beverage portfolio includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana.
SodaStream is the premier sparkling water brand in terms of volume worldwide, and its Sparking Water Makers “enable consumers to easily transform ordinary tap water into sparkling water and flavored sparkling water in seconds.”
SodaStream CEO and director, Daniel Birnbaum, said in a statement that “we are thrilled to become part of PepsiCo and join its diverse and talented team. SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world—and PepsiCo will help us deliver and expand on this mission. With some of the world's leading marketing and R&D teams, and access to new markets and channels, we are excited to grow hand-in-hand with PepsiCo in the months and years to come."
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