PepsiCo acquires SodaStream
SodaStream has a new home.
The company announced that it has reached an agreement and been acquired by PepsiCo for $144 per share in cash.
“PepsiCo and SodaStream are an inspired match,” chairman and CEO of PepsiCo, Indra Nooyi said. “Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated. 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.”
Under the terms of the agreement, PepsiCo will acquire all of SodaStream’s outstanding shares in a transaction valued at $3.2 billion.
“Today marks an important milestone in the SodaStream journey. It is the validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world,” Daniel Birnbaum, SodaStream's CEO and director said. “We are honored to be chosen as PepsiCo's beachhead for at home preparation to empower consumers around the world with additional choices. I am excited our team will have access to PepsiCo's vast capabilities and resources to take us to the next level. This is great news for our consumers, employees and retail partners worldwide.”
The acquisition was approved by the board of directors at both companies and expected to close by January 2019.
“SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio while catalyzing our ability to offer personalized in-home beverage solutions around the world,” Ramon Laguarta, CEO-elect and president of PepsiCo said. “From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for foodservice and Aquafina water stations for workplaces and colleges, PepsiCo is finding new ways to reach consumers beyond the bottle, and today's announcement is fully in line with that strategy.”
The company announced that it has reached an agreement and been acquired by PepsiCo for $144 per share in cash.
“PepsiCo and SodaStream are an inspired match,” chairman and CEO of PepsiCo, Indra Nooyi said. “Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated. 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.”
Under the terms of the agreement, PepsiCo will acquire all of SodaStream’s outstanding shares in a transaction valued at $3.2 billion.
“Today marks an important milestone in the SodaStream journey. It is the validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world,” Daniel Birnbaum, SodaStream's CEO and director said. “We are honored to be chosen as PepsiCo's beachhead for at home preparation to empower consumers around the world with additional choices. I am excited our team will have access to PepsiCo's vast capabilities and resources to take us to the next level. This is great news for our consumers, employees and retail partners worldwide.”
The acquisition was approved by the board of directors at both companies and expected to close by January 2019.
“SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio while catalyzing our ability to offer personalized in-home beverage solutions around the world,” Ramon Laguarta, CEO-elect and president of PepsiCo said. “From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for foodservice and Aquafina water stations for workplaces and colleges, PepsiCo is finding new ways to reach consumers beyond the bottle, and today's announcement is fully in line with that strategy.”