PepsiCo buys Sodastream for $3.2bn

Israel-based Sodastream makes a machine and refillable cylinders allowing users to make their own carbonated drinks.

Monday's sale looks to inject another big tax payout to Israel following previous sales of Israeli companies such as the mobile navigation app Waze, which was acquired by Google for about $1 billion, and Mobileye, which produces technology for self-driving cars and was gobbled up by Intel past year for $15 billion.

He adds: "SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio, while catalysing our ability to offer personalised in-home beverage solutions around the world".


The machines made it into ten million British homes in the 1970s and 1980s as Tommy Cooper, the comedian, right, appeared in... "PepsiCo is finding new ways to reach consumers beyond the bottle".

SodaStream shares have jumped 49 per cent this month after the company boosted its forecast for revenue growth this year to 23 per cent and reported first-half figures that beat estimates. The company had marketed itself as a more environmentally friendly alternative to mainstream bottled drinks and therefore a threat to the giant producers. As the stock declined in 2014 and 2015, Birnbaum began the marketing shift away from sugary sodas, and it worked: PepsiCo's bid price is 10 times where the shares were trading less than three years ago.

The deal announced on Monday may be the last for PepsiCo Chief Executive Indra Nooyi, who will hand over to Ramon Laguarta later this year.


PepsiCo said SodaStream complements its water business, which includes Aquafina and smaller brands Bubly and Lifewtr.

Speculation about Pepsi or Coca-Cola buying SodaStream has bubbled for years.

SodaStream was set up in Britain in 1903 by a London gin distiller, and the company still had a factory in Peterborough as late as 2003, when production transferred to Israel and the West Bank under its new Israeli owners.


The move will bring Israeli-based SodaStream International Ltd. under American ownership, and give PepsiCo more points for moving to decrease the amount of plastic flowing into landfills and seas.

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