PepsiCo Bets on Healthy, Eco-friendly With SodaStream Buy

Scarlett Johansson with Sodastream’s Daniel Birnbaum

The companies are "an inspired match", said PepsiCo CEO Indra Nooyi in a statement, noting that their products fit with Pepsi's goal of "making more nutritious products while limiting our environmental footprint".

PepsiCo is in the process of expanding its water offerings.

The purchase will probably be the last big move by Nooyi, who said this month she's stepping down as head of the beverage company after 12 years in the job.

With the $3.2 billion purchase, the U.S. beverage giant continues its effort to contend with falling demand for sugar-laden soft drinks, especially sodas. The Israel-based company, which produces machines that allow people to make fizzy drinks in their own homes, has positioned itself as a provider of a healthy product in contrast to traditional sugary, carbonated drinks.

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Laguarta said PepsiCo committed to keeping Israel the headquarters for 15 years, praising the company's infrastructure and the "amazing" knowhow of factory staff. SodaStream shares were suspended in Tel Aviv on Monday morning.

PepsiCo said it was acquiring all SodaStream's outstanding shares at $144 USA per share, a 32 per cent premium to the 30-day volume weighted average price.

SodaStream's revenues were $543.4 million, while PepsiCo had revenues of $63.5 billion.

Matthew Barry, senior analyst of beverages at Euromonitor International, said deals like the SodaStream purchase were vital for PepsiCo as it passes to new management.

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SodaStream shares jumped 9.4 percent to close at $142.11 in NY, while PepsiCo slipped 0.1 percent to $114.94.

Say "get busy with the fizzy" to a child of the 1980s and they will think back to the Sodastream, the do-it-yourself fizzy drinks machine notorious among parents for the mess it created.

In 1991, the same year SodaStream was founded, PepsiCo finally ended its boycott on the Jewish state and entered the Israeli market.

SodaStream's performance improved following a shift in strategy that put more emphasis on sparkling water over soda, and cultivating a loyal user base that continues to use the device after purchasing it.

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