PepsiCo, Inc. and SodaStream International Ltd. have announced that they have entered into a deal under which PepsiCo has agreed to purchase all outstanding shares of SodaStream for 112.83 GBP per share in cash, according to a statement from PepsiCo on Monday (20).
Under the terms of the deal between PepsiCo and SodaStream, PepsiCo has signaled green to purchase all of the outstanding shares of SodaStream International Ltd. For112.83 GBP per share, in a transaction valued at 2.51 billion GBP. The deal will be funded with PepsiCo's cash on hand.
The deal has been unanimously sanctioned by the boards of directors of both companies. The deal is under certain regulations, such as a SodaStream shareholder vote, some regulatory approvals, and other conventional conditions. The closing is anticipated by January 2019, PepsiCo, Inc. said in a release.
"PepsiCo and SodaStream are an inspired match," said PepsiCo Chairman and CEO Indra Nooyi in a statement released. "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 Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more sustainable planet," Indra Nooyi added.
Daniel Birnbaum, SodaStream CEO and Director said, "today marks an important milestone in the SodaStream journey. It is a validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world."
"SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio, while catalyzing our ability to offer personalized in-home beverage solutions around the world," said Ramon Laguarta, CEO-Elect and President, PepsiCo. in a release.
SodaStream was in news for controversy in the Middle East after it shut down its factory in the West Bank in 2014 following protests and demonstrations. The protesters said, the factory was part of territory which is illegally occupied by Israel.
