PepsiCo buys Israel’s fizzy drink maker SodaStream for $3.2 billion
22/08/2018
Jerusalem: Beverage giant PepsiCo has bought Israel's fizzy drink maker SodaStream for $3.2 billion.
PepsiCo said on Monday it's acquiring all SodaStream's outstanding shares at $144 per share, a 32 percent premium to the 30-day volume weighted average price.
Earlier this month, SodaStream reported its strongest results in company history, a 31 percent year-over-year jump in revenues to $172 million, an 89 percent leap in operating profit to $32 million and an 82 percent climb by net profit to $26 million.
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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