The deal sees snack and beverage giant PepsiCo acquiring countertop carbonated water machine maker SodaStream for $3.2 billion. It underscores PepsiCo’s push to add healthier products to its portfolio and move to a more environmentally friendly agenda.
On Monday, New York based beverage and snack giant PepsiCo Inc disclosed it would acquire Tel Aviv, Israel-based Sodastream for $3.2 billion. Sodastream makes a machine and refillable cylinders through which users can make their own fizz carbonated water drinks at home.
The acquisition marks one of the boldest moves made by PepsiCo CEO Indra Nooyi in her 12-year tenure. Earlier this month, Nooyi announced her plans of stepping down from the company. Nooyi has spent years warding off pressure from activist investor Nelson Peltz, whose presence cast a close eye on dealmaking.
Both companies have stated, PepsiCo will pay $144 in cash per share for every share of Sodastream.