Beverage giant Pepsi has completed the acquisition of Sodastream, the Israeli developer of at-home carbonated beverage units for sparkling water. As part of the deal, Pepsi acquired Sodastream’s outstanding shares at $144 per share in an overall deal that is valued at $3.2 billion.
Daniel Birnbaum, SodaStream CEO and Director said: “We are thrilled to become part of PepsiCo and join its diverse and talented team. SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world – and PepsiCo will help us deliver and expand on this mission. With some of the world’s leading marketing and R&D teams, and access to new markets and channels, we are excited to grow hand-in-hand with PepsiCo in the months and years to come.”
“I couldn’t be prouder or more excited to welcome SodaStream to the PepsiCo family,” said Ramon Laguarta, Pepsi’s CEO. “With its customizable options, SodaStream empowers consumers to personalize their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace. Together with SodaStream, I’m confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future,” he added.
Announced earlier this year, this acquisition marks the third billion-dollar exit for an Israeli company in 2018 and PepsiCo’s largest buyout in eight years. The deal is set to expand the reach of the soft drink maker into the homes of consumers who are on a more health-conscious and environment-friendly track. SodaStream has touted itself as a sustainable company, working to diminish disposable plastic use and promote reusable bottles, and as a healthy alternative to fizzy drinks loaded with sugar.
SodaStream products are available in more than 80,000 retail stores across 45 countries, according to the company.