by Ilanit Chernick
PepsiCo has announced it has completed its $3.2 billion acquisition of Israeli-based SodaStream.
In August, the snack and drinks company confirmed it was buying out the Israeli carbonated drinks company for $144 per share.
In a statement released Wednesday, PepsiCo CEO Ramon Laguarta said he couldn’t be “prouder or more excited” to welcome SodaStream to the “PepsiCo family.”
He made it clear that SodaStream would remain based in Israel for at least 15 years, “if not indefinitely,” adding the company is planning to open a further manufacturing facility in Israel following the closure of the deal.
“With its customizable options, SodaStream empowers consumers to personalize their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace,” Laguarta said. “Together with SodaStream, I’m confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future.”
With the acquisition completed, SodaStream will be de-listed from the Tel Aviv Stock Exchange and the Nasdaq.
Following the completion of the acquisition Sodastream CEO and director Daniel Birnbaum said that the company was “thrilled to become part of PepsiCo and join its diverse and talented team.
“SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world – and PepsiCo will help us deliver and expand on this mission,” he said Wednesday. “With some of the world’s leading marketing and R&D teams, and access to new markets and channels, we are excited to grow hand-in-hand with PepsiCo in the months and years to come.”
Prior to the deal, SodaStream shares had risen by 85 percent since the beginning of the year. The deal is expected to close by January 2019.