In $3.2 billion deal.
PepsiCo and SodaStream have entered into an agreement under which PepsiCo will acquire all outstanding shares of SodaStream for $144.00 per share in cash, in a transaction valued at $3.2 billion.
SodaStream CEO and Director, Daniel Birnbaum commented, “This marks an important milestone in the SodaStream journey. It is validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world. 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.”
PepsiCo chairman and CEO, Indra Nooyi said, “PepsiCo and SodaStream are an inspired match. 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 our philosophy of making more nutritious products while limiting our environmental footprint.”
The acquisition has been unanimously approved by the directors of both companies. The transaction is subject to a SodaStream shareholder vote, certain regulatory approvals and other customary conditions, and closing is expected by January 2019.