PepsiCo Purchases SodaStream In Stock Acquisition Deal

PURCHASE, NY — PepsiCo, headquartered in Westchester County, announced Monday it has entered into an agreement to purchase SodaStream, the Tel Aviv-based manufacturer of home sparkling water makers. The agreement states that PepsiCo will acquire all outstanding SodaStream International Ltd. shares for $144 per share for a total transaction of $3.2 billion.

PepsiCo Chairman and CEO Indra Nooyi said her company and SodaStream are an inspired match.

“Daniel (Birnbaum, SodaStream CEO and director) and his team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated,” she said. “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.”

Birnbaum said he was honored PepsiCo his company to be its beachhead for at-home preparation of carbonated beverages.

“It is validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world,” he said.

The acquisition has been unanimously approved by both companies’ boards of directors. It is subject to a SodaStream shareholder vote, certain regulatory approvals and other customary conditions, and closing is expected by January 2019, according to a spokesperson.

Logo: PepsiCo.