PepsiCo to acquire sparkling water brand SodaStream for $3.2bn
PepsiCo acquisition of SodaStream : Soft drinks giant PepsiCo has agreed to acquire sparkling water brand SodaStream International for $3.2 billion in an all-cash deal as per the latest drinks acquisition news.
Under the terms of the deal, PepsiCo will buy each of the Israel-based SodaStream shares for $144.00.
SodaStream is also a manufacturer and distributor of Sparkling Water Makers, which can transform ordinary tap water into sparkling water and flavored sparkling water in matter of seconds. Its products are available across 45 countries in over 80,000 individual retail stores.
According to Ramon Laguarta – CEO-Elect and President of PepsiCo, SodaStream is highly complementary and incremental to the business of PepsiCo, adding to the growing water portfolio of the soft drinks company, while catalyzing its ability to come up with personalized in-home beverage solutions across the world.
Daniel Birnbaum – SodaStream CEO and Director, commenting on PepsiCo acquisition of SodaStream, said: “Today marks an important milestone in the SodaStream journey. It is validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world.
“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.”
PepsiCo said that its robust distribution capabilities, worldwide reach, R&D, design and marketing expertise in combination with SodaStream’s differentiated and unique product line up will position the sparkling water brand for more expansion and breakthrough innovation.
Commenting on PepsiCo acquisition of SodaStream, Indra Nooyi – PepsiCo Chairman and CEO, 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.
“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.”
PepsiCo acquisition of SodaStream has been approved unanimously by the boards of directors of the two firms.
Subject to a SodaStream shareholder vote, some regulatory approvals and other customary conditions, PepsiCo acquisition of SodaStream is anticipated to be wrapped up by January 2019.