PepsiCo announced that it has completed the acquisition of SodaStream International Ltd, as previously announced in late August.
The acquisition of the Israel-based company, for $3.2 billion, is in line with PepsiCo's Performance with Purpose strategy which supports health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions.
"I couldn't be prouder or more excited to welcome SodaStream to the PepsiCo family. With its customisable options, SodaStream empowers consumers to personalise their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace," said Ramon Laguarta, PepsiCo Chief Executive Officer.
“Together with SodaStream, I'm confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future."
PepsiCo said it wants to combine its R&D capabilities and global reach to enhance SodaStream's unique product range for further expansion and breakthrough innovation.
Daniel Birnbaum, SodaStream CEO and director said that the group is thrilled to become part of PepsiCo.
“SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world—and PepsiCo will help us deliver and expand on this mission,” he said.
“With some of the world's leading marketing and R&D teams, and access to new markets and channels, we are excited to grow hand-in-hand with PepsiCo in the months and years to come."
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.