SodaStream International Ltd. (Nasdaq: SODA) and Kraft Foods, Inc. (NASDAQ: KFT) are expadning their strategic partnership for the manufacture, marketing, distribution, and sale of Kraft Foods beverage brands for use with the SodaStream soda making system. The initial Kool-Aid flavor choices will be Cherry, Grape and Tropical Punch, which complement the current jointly branded portfolio of Crystal Light powdered drink mix Country Time lemonade. The companies did not disclose the terms of the deal.
The products are due to become available during the fourth quarter of 2012.
SodaStream “ CEO Daniel Birnbaum said, "I grew up drinking Kool-Aid and am excited to welcome such a popular drink to SodaStream. It truly delights me to have the opportunity to expand our partnership with Kraft Foods by delivering a sparkling version of this iconic brand to millions of Americans."
Kraft VP beverages Doug Weekes said, "The Kool-Aid brand will be a great addition to the current lineup we’ve developed with SodaStream. We’re pleased with the early success of Crystal Light and Country Time and believe that adding Kool-Aid will attract even more people to enjoy our flavors with personally-made carbonation."
SodaStream's share price rose 3.8% yesterday to $38.68, giving a market cap of $779 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 19, 2012
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