PepsiCo announced Wednesday it had completed its acquisition of Israeli firm SodaStream, whose command of the fizzy water market appealed to the US beverage giant as demand falls for sugar-laden soft drinks.
PepsiCo said in August that it was buying the Israeli company, which makes machines to carbonate home tap water, for $3.2 billion in the top American food and beverage company’s largest acquisition in nearly a decade.
“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,” PepsiCo CEO Ramon Laguarta said in a statement. “Together with SodaStream, I’m confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future.”
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