Drinks giant PepsiCo has bought Israel’s fizzy drink maker SodaStream for 3.2 billion dollars (£2.5 billion).
By Associated Press Reporters
August 20 2018 10:37 AM
Drinks giant PepsiCo has bought Israel’s fizzy drink maker SodaStream for 3.2 billion dollars (£2.5 billion).
PepsiCo said it is acquiring all SodaStream’s outstanding shares at 144 dollars (£112) per share, a 32% premium to the 30-day volume weighted average price.
Earlier this month, SodaStream reported its strongest results in company history, a 31% year-over-year jump in revenues to 172 million dollars (£134 million), an 89% leap in operating profit to 32 million dollars (£25 million) and an 82% climb by net profit to 26 million dollars (£20 million).
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PepsiCo chairman and CEO Indra Nooyi has called the companies “an inspired match”.
Three years ago, SodaStream shut down its West Bank factory amid international boycott calls and opened a sprawling new factory deep in Israel’s Negev Desert instead.
Actress Scarlett Johansson was previously a brand ambassador for the company.
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