Beverage giant PepsiCo has bought Israel’s fizzy drink maker SodaStream for US$3.2 billion.
PepsiCo said on Monday it’s acquiring all SodaStream’s outstanding shares at $144 per share, a 32 per cent premium to the 30-day volume weighted average price.
WATCH BELOW: The dangers of sugary alcoholic drinks
Earlier this month, SodaStream reported its strongest results in company history, a 31 per cent year-over-year jump in revenues to $172 million, an 89 per cent leap in operating profit to $32 million and an 82 per cent climb by net profit to $26 million.
- Calgary area ‘very uniquely situated’ for study of hailstorms, says researcher
- Close to 800,000 have applied for $100 rebate, payments coming: Alberta’s Smith
- RBC agrees to $45M class-action settlement over mutual fund fees
- Flooding damage closes Telus World of Science for months, 68% of staff laid off
PepsiCo Chairman and CEO Indra Nooyi calls 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.
Comments
Want to discuss? Please read our Commenting Policy first.