PepsiCo puts fizz into healthy drinks with $3.2 billion SodaStream deal
PepsiCo (PEP.O) will get carbonated drink-equipment maker SodaStream (SODA.TA) (SODA.O) for $3.2 billion since it battles Coca-Cola (KO.N) for an advantage in the health-conscious beverage marketplace.
Founded in Britain in 1903, SodaStream was a coveted device in British kitchens in the 1970s and 80s, allowing people to make fizzy drinks with the addition of flavored syrups to carbonated plain tap water, but its popularity faded while bottled sodas became more affordable.
Recently, the Israel-based provider reinvented itself as a good fizzy water company favored by younger and better being- and environmentally-conscious buyers, who would like to drink less soda and use fewer plastic bottles.