PepsiCo said Monday it plans to buy Soda-Stream, 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 per cent 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.
PepsiCo expects to close the deal by January 2019, after a shareholder vote, regulatory approval and other conditions.
