PepsiCo have announced their plan to acquire SodaStream for $3.2 billion.
“We get to play in a business – home beverages – where we don’t play,” PepsiCo CFO Hugh Johnston told CNBC of their decision to acquire the at-home carbonated drink maker.
With @sodastreamusa in our home, everyone is happy! I cut out the sugary beverages that affect our health and I am keeping everyone hydrated. The kids get “bubbles” in their drinks like soda. And Dad has a lot less cans to recycle. Feel free to buy yours using code psiloveutoo10 on link in bio! #hbtmysodastream #ad
SodaStream, which is based in Tel Aviv, makes a machine and refillable cylinders. Consumers can make their own flavored, or non-flavored water carbonated drinks at home – a popular trend as people move away from highly sugared beverages.
“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,” PepsiCo President Ramon Laguarta said in a statement. “PepsiCo is finding new ways to reach consumers beyond the bottle.”
According to CNBC, the deal is expected to close by January 2019, pending certain regulatory approvals and a SodaStream shareholder vote.