August 20, 2018
PepsiCo Inc., the US-based drinks, food, and snacks giant, is acquiring Israel’s SodaStream, a home seltzer machine company, for $3.2 billion in cash.
In a statement on Monday, the US company said it had acquired all of the outstanding shares of SodaStream for $144 per share in cash, a 32% premium on its 30-day volume weighted average price.
“PepsiCo and SodaStream are an inspired match,” PepsiCo chairman and CEO Indra Nooyi, who earlier this month said she plans to step down, said in a statement.
The Israeli company makes “great-tasting beverages” while reducing the amount of waste generated, she said. And this is aligned with PepsiCo’s philosophy of “making more nutritious products while limiting our environmental footprint,” added Nooyi.
The deal will enable PepsiCo to reach customers at home, rather than just at stores, CNBC reported, and comes as grocers are witnessing changes in purchasing trends, with more shoppers buying their products online.