PepsiCo buys fizzy drinks maker SodaStream for $3.2bn

YouTubeScarlett Johansson in a 2014 advertisement for SodaStream

Over her tenure, Nooyi split PepsiCo's products into three categories: Fun For You includes traditional, higher-calorie soft drinks and snacks.

According to the Times of Israel, the purchase will not affect the workers of the seltzer water machine maker as PepsiCo has committed to keeping the business in Israel for 15 years.

Earlier this month, SodaStream reported its strongest results in company history, a 31pc year-over-year jump in revenues to $172m, an 89pc leap in operating profit to $32m and an 82pc climb by net profit to $26m. The stock rose 10 per cent to US$143.36 in premarket trading in the U.S.

SodaStream, which claims it is the largest sparkling water brand in the world, provides machines that enable consumers to make their own fizzy drinks or flavoured waters - meaning there is less need to buy bottles of drink. The company had marketed itself as a more environmentally friendly alternative to mainstream bottled drinks and therefore a threat to the giant producers.

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PepsiCo Chairman and CEO Indra Nooyi calls the companies "an inspired match".

Nooyi said SodaStream is an extraordinary company offering consumers the ability to make great-tasting beverages while reducing the amount of waste.

PepsiCo will pay $144.00 per share in cash, a 32% premium.

Nooyi, who will be replaced by Ramon Laguarta, Pepsi's head of global operations, helped turn Pepsi into one of the most successful food and beverage companies in the world.

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In 2014, actress Scarlett Johansen stepped down from her role as Oxfam ambassador after appearing in adverts for the company, while in the same year SodaStream was forced to close a store in Brighton after weekly BDS protests.

And it follows in the footsteps of Plano-based Dr Pepper's recent acquisition by the parent of in-home-beverage maker Keurig.

Buying SodaStream will further boost Pepsi's health credentials.

SodaStream was set up in Britain in 1903 by a London gin distiller, and the company still had a factory in Peterborough as late as 2003, when production transferred to Israel and the West Bank under its new Israeli owners.

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