International soft drink conglomerate PepsiCo will buy Israeli company SodaStream, which manufactures home soda-making machines, for $3.2 billion, according to an agreement reached Sunday night.
SodaStream was having an excellent year even before news of the deal broke. The company's stock has risen 85% since the start of 2018, and its stock price for the purchase has been set at $144 per share.
PepsiCo CFO Hugh Johnston hailed his company's entry into a new market of "in-home beverage creation."
SodaStream sells its products in some 80,000 retail outlets in 45 countries. Several years ago, it was the target of political action because one of its factories was located over the Green Line. In 2013, Canadian consumers decided to boycott the company.
SodaStream now manufactures its machines in Lehavim in the Negev Desert, and its syrups at a factory in Ashkelon.
