Global food and drinks giant Pepsico has acquired Israel-based company SodaStream International for $3.2 billion.
SodaStream makes home-machines which transform tap water into carbonated water that can be flavoured by adding syrups.
“PepsiCo and SodaStream are an inspired match,” said Indra Nooyi, PepsiCo chairman and chief executive officer (CEO), in a statement. “Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated. 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.”
“Today marks an important milestone in the SodaStream journey. It is validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world,” commented Daniel Birnbaum, SodaStream director and CEO.
Source: Beverage Industry