Pepsi will buy SodaStream in a $3.2 billion deal

Scarlett Johansson with Sodastream’s Daniel Birnbaum

Beverage giant PepsiCo on Monday purchased Israel's fizzy drink maker SodaStream for $3.2 billion United States, a boon for a company that has enjoyed a resurgence after being targeted by anti-Israel boycotters in the past.

Purchasing the Israeli company, known for DIY seltzer makers like the SodaStream Mix, will push Pepsi's image in a health-focused direction, according to CNN.

She said SodaStream's products, which are marketed as a healthy alternative to sugary drinks, fit in with the USA firm's goal of "making more nutritious products while limiting our environmental footprint".

The deal is likely to close in January.

Founded in Britain in 1903, SodaStream was a coveted device in British kitchens in the 1970s and 80s, allowing people to create fizzy drinks by adding flavored syrups to carbonated tap water, but its popularity faded as bottled sodas became cheaper. Now, thanks to the $3.2 billion deal, Pepsi has access to a new market.

He adds: "SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio, while catalysing our ability to offer personalised in-home beverage solutions around the world".

PepsiCo Chairman and CEO Indra Nooyi calls the companies "an inspired match". The company has seen its share price skyrocket since it went public in 2010 and has had a really strong couple of years, jumping 85 per cent in the past year alone.

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

PepsiCo will pay $144 per share in cash, representing a 10.9 percent premium to Friday's closing price of SodaStream's US -listed stock and a 32 percent premium to its 30-day average.

The move will bring Israeli-based SodaStream International Ltd. under American ownership, and give PepsiCo more points for moving to decrease the amount of plastic flowing into landfills and seas.

PepsiCo is in the process of expanding its water offerings.

Actress Scarlett Johansson was previously a brand ambassador for the company.

After Coca-Cola bought the stake in Green Mountain in 2014, Nooyi said in an interview PepsiCo would avoid committing to a single technology in at-home soda makers.

"With sugary carbonates and juices struggling and no turnaround in sight, mitigating the losses through newer and healthier products will be essential for PepsiCo", he said in a research note. Sugar taxes also represent a prominent threat.

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