NEW YORK: PepsiCo. said Monday it plans to buy SodaStream, an Israeli maker of carbonation products, for $3.2 billion as the beverage and snacks giant makes further inroads with in-home goods.
The cash deal will see PepsiCo. pay $144 per share for SodaStream’s outstanding stock, a 32 percent premium over its average price of the past 30 days.
SodaStream offers consumers “the ability to make great-tasting beverages while reducing the amount of waste generated,” PepsiCo. chair and CEO Indra Nooyi said in a statement.
“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. says it aims to provide environmentally friendly and cost-effective products that promote health and wellness.
“From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for food service and Aquafina water stations for workplaces and colleges, PepsiCo. is finding new ways to reach consumers beyond the bottle,” said Ramon Laguarta, PepsiCo. CEO-elect and president.
While the boards of directors of both companies have approved the deal, it is still subject to a SodaStream shareholder vote, regulatory approvals and other conditions, PepsiCo. said, adding that closing was expected by January 2019.
PepsiCo. had $63 billion in revenue last year.
PepsiCo to buy SodaStream for $3.2bn
PepsiCo to buy SodaStream for $3.2bn
- The cash deal will see PepsiCo. pay $144 per share for SodaStream’s outstanding stock
- PepsiCo. says it aims to provide environmentally friendly and cost-effective products that promote health and wellness
