PepsiCo plans to buy Israel’s SodaStream for $3.2 billion
PepsiCo is set to takeover SodaStream, an Israeli maker of carbonation products, for an acquisition cost of as much as $3.2 billion.
“[SodaStream has] the ability to make great-tasting beverages while reducing the amount of waste generated,” PepsiCo chair and CEO Indra Nooyi said in a statement, which was cited in an Agence France-Presse report.
“That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more sustainable planet,” he added.
The deal, right now, is still subject to approval of the board as well as shareholders.
Both parties are expecting to close the transaction during the first month of 2019.