PepsiCo announces deal to purchase Sodastream; Sodastream to remain independent division of company; Sodastream CEO: I am excited our team will have access to PepsiCo’s vast capabilities and resources to take us to the next level.
PepsiCo announced on Monday that it will purchase the Israeli company Sodastream for $3.2 billion.
Sodastream International Ltd. is one of Israel’s most accomplished companies abroad, its at-home carbonated drink machines and products a global brand. The deal is expected to finalize in January 2019, PepsiCo announcing that SodaStream would become an “independent division” of the company.
Chairman and CEO of PepsiCo, Indra Nooyi, referred to the acquisition as an “inspired match,” stating on the Sodastream company and its CEO, Daniel Burman “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… Together, we can advance our shared vision of a healthier, more-sustainable planet.”
Burman referred to the agreement as a “milestone” that serves as “validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world.” He added “I am excited our team will have access to PepsiCo’s vast capabilities and resources to take us to the next level. This is great news for our consumers, employees and retail partners worldwide.”
Earlier this month, Sodastream reported a 31.3% rise in revenue in what Burman referred to as “the most successful quarter in our company’s history.”
In mid-March, Intel Corp announced its purchase of Israel’s Mobileye, the autonomous vehicle technology company, for $15 billion- the largest acquisition of an Israeli high-tech company to date. As with Sodastream, Intel confirmed a partnership with Mobileye, announcing it would also move its automotive driving division to Israel to be managed by Mobileye’s CTO and co-founder, Amnon Shashua.
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