PepsiCo Wants You To Drink Healthier, Set To Buy SodaStream For $3.2 Billion
PepsiCo is buying the Israeli SodaStream, one of the world’s biggest sparkling water brands for $3.2 Billion
PepsiCo has made a few headlines this summer. First, CEO Indra Nooyi announced that she’ll be leaving her role in October after holding the position for over a decade and now the company is buying SodaStream, one of the world’s biggest sparkling water brands for a whopping $3.2 billion.
The decision to purchase SodaStream is part of PepsiCo’s strategy to move towards offering customers healthier products, which Nooyi believes is essential for the long-term health of the company. The Israeli SodaStream has become one of the biggest players in the sparkling water category, with stocks soaring over 320% in the past couple of years since rebranding as a sparkling water company. SODA even jumped more than 9% today after the planned acquisition was announced.
According to The Wall Street Journal, "Sparkling water has grown far more strongly than the overall bottled water category in the U.S., clocking volume growth of 38% last year up from 35% in 2016 according to data from industry tracker Beverage Marketing Corp."
If you don’t have one at the house, then there’s a good chance that you’ve seen one in the office. The DIY drink maker allows you to not only make a variety of flavored seltzer water drinks but also helps you make your own homemade versions of flavored sodas too. While SodaStreams come in a few different models, you can get a Fizzi Start Pack at Target for around $64.
Let us know what you think about the bubbly acquisition in the comments section below and be sure to subscribe to The Sitch for more Pepsi news and other entertaining reads.