PepsiCo to buy Israel’s SodaStream for $3.2 billion

SodaStream

Employees pack boxes of the SodaStream product at the factory in the West Bank Jewish settlement of Maale Adumim January 28, 2014.

PepsiCo Inc. on Monday agreed to buy SodaStream International Ltd. for $3.2 billion, gaining the Israeli company's technology for making soft drinks at home amid rising concern about plastic waste. The offer represents an 11% premium to the Friday closing price of SodaStream's USA -listed stock and is 32% higher than the company's 30-day volume weighted average price. SodaStream shares were suspended in Tel Aviv on Monday morning.

PepsiCo will pay $144.00 per share in cash, a 32% premium.

It is also the company's first big acquisition since chief executive Indra Nooyi disclosed she would step down in October after 12 years at the helm. The company has targeted big soda makers in ads in the past, criticizing them for making excessive waste.

As well as Pepsi PepsiCo's brands include Walkers Doritos and Tropicana
Image As well as Pepsi PepsiCo's brands include Walkers Doritos and Tropicana

"That focus is well-aligned with performance with goal, our philosophy of making more nutritious products while limiting our environmental footprint", says Nooyi.

"Together, we can advance our shared vision of a healthier, more sustainable planet".

With soft-drink sales hurting in recent years as consumers shy away from sugary beverages, SodaStream Chief Executive Officer Daniel Birnbaum has shifted the company's marketing to focus on how the machines can produce carbonated water, without the flavoured syrups. Goldman Sachs and Centerview advised PepsiCo, while Perella Weinberg Partners gave advice to SodaStream.

SodaStream is available at more than 80,000 individual retail stores across 45 countries.

Related News:

  • Whiteboards used as Gatwick flight info screens fail

    Whiteboards used as Gatwick flight info screens fail

    There was frustration among some passengers who described walking to wrong gates or having their flights delayed. It tweeted: "A fix for the issue is being worked on".
    Aston Martin DB5 - Bond's ride being remade, 25 units

    Aston Martin DB5 - Bond's ride being remade, 25 units

    In all, 28 of the cars will be made including ones to be kept by Aston Martin and EON and another to be auctioned for charity. That's a relative bargain compared to the $4.6 million someone paid in 2010 for an original James Bond DB5 used in the film .
    Zack Martin to have MRI to confirm Cowboys’ optimism about injury

    Zack Martin to have MRI to confirm Cowboys’ optimism about injury

    He pulled to the right side on a run play for running back Rod Smith when he encountered cornerback Dre. The report noted Martin is set to have an MRI on Sunday to determine the severity of the injury.
  • Superdry co-founder gives £1m to referendum campaign

    Superdry co-founder gives £1m to referendum campaign

    Mr Dunkerton said that if Brexit had happened 20 years earlier, "Superdry would never have become the global success that it is". A spokesman at May's Downing Street office did not offer an immediate comment on the report.
    Google brings Gmail's confidential mode to mobile phone users

    Google brings Gmail's confidential mode to mobile phone users

    Gmail's confidential mode is an interesting feature for email that provides low-level protection for your messages. You will then have to choose a passcode which can be an OTP on the recipient's phone number, or you can skip it.
    Two people die in Bundoran road crash

    Two people die in Bundoran road crash

    Garda crash investigators are at scene and the road at East End, Finner, is now closed with local diversions in place. The man who died has been named as Conall McAleer, originally from Boa Island, had been living in Pettigo.
  • Turkey: President Erdogan challenges those playing

    Turkey: President Erdogan challenges those playing "games" on the economy

    His remarks came in response to a recent currency sell-off that has spread to other emerging market currencies and global stocks. The currency crisis poses an additional risk to Germany's economy, the German finance minister said on Monday.
    Kanye West Attends 2Chainz Wedding Wearing Yeezus Slides

    Kanye West Attends 2Chainz Wedding Wearing Yeezus Slides

    While Ward wore a mermaid gown for her walk down the aisle, she later changed into a shimmery number. She also sported a neon green, one-shoulder crop top and matching sarong-style skirt on Friday.
    Official Imaging samples from

    Official Imaging samples from "the most awaited phone"

    Nokia 6.1 Plus is officially the company's first smartphone to sport a notch and has an aspect ratio of 19:9 on the display. Currently, there are two variants of the handset featuring 3GB RAM+32GB internal storage and 4GB RAM+64GB internal storage.
  • Under-fire Apple removes 25000 apps in China

    Under-fire Apple removes 25000 apps in China

    Chinese media has criticized Apple in the past for not doing enough for the removal of illegal apps from the App Store. China is one of Apple's largest markets, accounting for roughly 20 per cent of its revenue previous year .
    Kyle Busch owns up to wrecking Martin Truex Jr

    Kyle Busch owns up to wrecking Martin Truex Jr

    Larson took over after that and rolled home with the win in overtime, with Xfinity Series leader Christopher Bell close behind. He just caught me and probably another lap or so he would've went right by. "I got hit in the left rear, pretty simple.
    Tesla sues Ontario over scrapped rebate

    Tesla sues Ontario over scrapped rebate

    By December, electric vehicles accounted for 1.4 per cent of all sales. He added Tesla has agreed to provide a refund of the deposit. None of Tesla's claims has been proven in court.


Most liked

Sujata Kumar, Sridevi's elder sister in English Vinglish, dies of cancer
Suchitra also revealed that the last rites were scheduled to take place at Juhu crematorium on Monday. The Telugu audience know her as the one who was seen as Nandamuri Balakrishna's grandma in "Legend".

Aretha Franklin to be laid to rest on 31 August
Now, as Mason mourns Thursday's death of the legend who became his friend, he is committed to carrying out her wishes on the film. Franklin will be entombed, along with her father, her two sisters, her brother and a nephew, at Woodlawn Cemetery in Detroit .

Former UN chief Kofi Annan dies at 80
Annan later served as the United Nations special envoy for Syria, leading efforts to find a peaceful solution to the conflict. The Philippines on Sunday joined the global community in mourning the demise of former UN Secretary General Kofi Annan .

Roger Federer v Novak Djokovic: Cincinnati Masters men's final
Novak Djokovic has broken new ground in tennis history after dispatching Roger Federer to win the Cincinnati Open. Federer was under pressure from the start, saving two break points before holding to win the first game.

Paul Merson: What I really think about new Chelsea FC signing
Otherwise it might be a problem. "I hope that we are able to play 90 minutes like the first 25". If Chelsea said you are not in our plans, I move.

Woman charged in Washington bridge push caught on video
Holgerson, who suffered six broken ribs and a punctured lung, said she would like her friend to " sit in jail " for what she did. The stunning moment was caught on camera as Jordan Holgerson was pushed off of the bridge into the river below.

Atlantia shares down again after Genoa bridge collapse
More than 300 firefighters have been working non-stop since Tuesday, though experts say chances of finding survivors are now slim. Genoa's Catholic archbishop Cardinal Angelo Bagnasco said the city has "had its heart torn out" as he led the funeral service.

Harry Kane relieved to end August goal drought with Tottenham
Harry Kane has finally broken his August duck in the Premier League at the 15th time of asking. I think Tottenham will win this one but I still think Fulham will be alright.

PM Mahathir assures China of working further to strengthen diplomatic ties
The centerpiece of China's Belt and Road infrastructure push in Malaysia is the ambitious $20-billion East Coast Rail Link project, work on which has been suspended pending discussions over pricing.

Cyprus extradites hijacking suspect Seif al-Din Mustafa to Egypt
The suspect was arrested and being held in Cyprus for the past two years. Mustafa told a Cypriot court that he meant no harm to anyone.

North Korea to host emotional family reunions
The ministry estimates there are now about 600,000 to 700,000 South Koreans with immediate or extended relatives in North Korea. Lee Soo-nam, 76, explains about photos showing his family members during an interview at his home in Seoul, South Korea.

Netflix spokesperson makes a statement about ads on the streaming service
Not that it's completely left-of-centre: in the US, Hulu and HBO Go both intersperse ads for other shows between streams. It's possible that since the adverts are just in a testing phase, the initiative will never take widespread affect.

Smoke worsens tonight and on Monday
Layered treelines are seen through smoke-filled air, Wednesday, Aug. 15, 2018, at Snoqualmie Pass in Washington state. People with chronic health conditions should check with their health care providers before using a respirator mask.

Mistakes hit United's confidence - Mourinho
Pep Guardiola says Jose Mourinho is right to say you "cannot buy class" (Nick Potts/PA). "That is true, you can not buy class". It was very disappointing, we tried to push. "You can not always approach the game the same way as the last one".

WWE SummerSlam 2018 matches, card, start time, location, 2018 date, PPV rumors
In a historical generational clash, current Raw Women's Champion, Alexa Bliss , will be taking on Hall of Famer Trish Stratus . SummerSlam is one of the "Big Four" pay-per-view events alongside WrestleMania , Survivor Series, and Royal Rumble.