PepsiCo to buy SodaStream for $3.2 billion

Scarlett Johansson with Sodastream’s Daniel Birnbaum

"With sugary carbonates and juices struggling and no turnaround in sight, mitigating the losses through newer and healthier products will be essential for PepsiCo", said Euromonitor International analyst Matthew Barry.

PepsiCo chairman and chief executive Indra Nooyi described the companies as "an inspired match".

Earlier this month, she announced she would be standing down as CEO in October after 12 years at the helm. It agreed to buy Bare Foods in May and KeVita drinks in late 2016. PepsiCo said on Monday it's acquiring all SodaStream's outstanding shares at $144 per share, a 32 percent premium to the 30-day volume weighted average price.

The deal will be funded using Pepsi's cash on hand and has been unanimously approved by the boards of both companies.

SodaStream's Israel-listed shares will be halted for trading until its Nasdaq-listed stock opens later on Monday, the Tel Aviv Stock Exchange said in a statement.

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Speculation about PepsiCo or Coca-Cola buying Sodastream has bubbled for years.

Other soft-drink producers have tried to tap the at-home market, though success has been elusive.

All three of the top soft drink brands have worked to find next-generation solutions to consumers' taste for less sugar and more eco-friendly offerings. Over the years, many users have used SodaStream only for making fizzy water, without the flavoured syrups it sells.

Three years ago, SodaStream shut down its West Bank factory amid worldwide boycott calls and opened a sprawling new factory deep in Israel's Negev Desert instead. It has since closed that factory and relocated to a much larger facility in southern Israel. Goldman Sachs and Centerview advised PepsiCo, while Perella Weinberg Partners gave advice to SodaStream.

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