PepsiCo completes acquisition of SodaStream

Daniel Birnbaum Photo: Eyal Izhar

PepsiCo has acquired all outstanding shares of the Israeli carbonated drinks company for $144 per share, at a company valuation of $3.2 billion.

PepsiCo, Inc. (NASDAQ: PEP) ("PepsiCo") announced today that it has completed its acquisition of SodaStream International Ltd., acquiring all outstanding shares of the Israeli carbonated drinks company for $144 per share, at a company valuation of $3.2 billion.

PepsiCo CEO Ramon Laguarta said, "I couldn't be prouder or more excited to welcome SodaStream to the PepsiCo family. With its customizable options, SodaStream empowers consumers to personalize their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace. Together with SodaStream, I'm confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future."

PepsiCo said that the deal is another step in its Performance with Purpose journey, supporting health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions, and the company's Beyond the Bottle strategy to form a more sustainable beverage ecosystem. PepsiCo's strong research and development capabilities, global reach, design and marketing expertise, combined with SodaStream's differentiated and unique product range position SodaStream for further expansion and breakthrough innovation.

SodaStream CEO Daniel Birnbaum said, "We are thrilled to become part of PepsiCo and join its diverse and talented team. SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world - and PepsiCo will help us deliver and expand on this mission. With some of the world's leading marketing and R&D teams, and access to new markets and channels, we are excited to grow hand-in-hand with PepsiCo in the months and years to come."

Pepsico was represented in the deal by Advs. Yair Geva and Aviram Hazak of Herzog Fox & Neeman Law Office.

SodaStream has delisted from the TASE and Nasdaq.

Ramon Laguarta and Daniel Birnbaum will be keynote speakers at the Globes Israel Business Conference in Jerusalem on December 19-20.

Published by Globes, Israel business news - en.globes.co.il - on December 5, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Daniel Birnbaum Photo: Eyal Izhar
Daniel Birnbaum Photo: Eyal Izhar
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