PepsiCo buys SodaStream for US$3.2B

In this Sept. 2, 2015 file photo, SodaStream products are seen at the SodaStream factory near the Bedouin city of Rahat, Southern Israel. AP Photo/Dan Balilty

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.

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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.

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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.

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