BREAKING NEWS: PepsiCo Buys SodaStream In $3.2b Deal
Us drinks giant PepsiCo has snapped up SodaStream the Israeli Company that sells homemade fizzy drink dispensers.
The US $3.2m deal will see the retail side of their business expanded in several Countries including Australia.
The announcement comes just weeks after the US consumer group announced that its chief executive Indra Nooyi would step down later this year. It also comes as drink Companies such as Pepsi and Coca Cola struggle to grow market share following a backlash against sugar.
The acquisition of the health-conscious soda maker will see Pepsi push int new markets.
SodaStream, which fashions itself as a health and wellness alternative to cola drinks, would complement Pepsi’s healthier options, which include the flavoured sparkling water brand Bubly and the fruit and vegetable snacks maker Bare Foods.
At this stage it’s not known how this will affect the Australian market or whether any new products will be launched here.
Incoming PepsiCo chief executive, Ramon Laguarta said “SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio, while catalysing our ability to offer personalised in-home beverage solutions around the world,” Laguarta told the UK Financial Times.
Recently Coca-Cola agreed to buy a minority stake in BodyArmor, a sports drink maker backed by US basketball star Kobe Bryant.
Coca-Cola’s move comes as it has struggled over the years to loosen the hold of Pepsi’s sports drink business Gatorade.