PepsiCo completes SodaStream acquisition
PepsiCo announced in August that it would acquire the Israel-based company for $144 per share in a deal valued at $3.2bn.
SodaStream is an at-home sparkling water brand that transforms tap water into flavored, sparkling beverages. It was launched in 1998, tapping into a market for healthier alternatives to carbonated soft drinks. Key selling points for the brand today are also its ability to offer customizable options and personalised drinks; and its commitment to reduce plastic waste as it does not need to package the finished product in plastic bottles (it intends to be completely plastic free by 2019).
The brand also taps into strong growth for sparkling water in the US.
SodaStream’s products are available in more than 80,000 stores in 45 countries: and it has seen more than 30% year-on-year growth in the US.
PepsiCo says its R&D capabilities, global reach and design and marketing expertise – coupled with SodaStream’s unique product range – set the brand in a good position for expansion and further innovation.
Ramon Laguarta, CEO, PepsiCo, said: "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.
“I'm confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future."
PepsiCo’s portfolio includes 22 billion-dollar brands, and generated more than $63bn in total net revenue in 2017. Its big brands include Pepsi-Cola, Gatorade, Quaker, Tropicana and Frito-Lay.