Do you want to make your own soda at home?
A deal just made by Westchester-based PepsiCo may allow you to do just that.
Pepsi announced on Monday it will acquire an Israel-based cola maker. The deal for SodaStream of $144 per share in cash, a transaction valued at more than $3.2 billion.
A SodaStream device carbonates water by adding carbon dioxide from a pressurized cylinder to create make carbonated water in which one of more than 100 types of syrups may be added to produce soda.
"Today marks an important milestone in the SodaStream journey," Daniel Birnbaum, SodaStream CEO and Director said. "It is validation of our mission to bring healthy, convenient and environmentally friendly beverage solutions to consumers around the world.
"We are honored to be chosen as PepsiCo's beachhead for at home preparation to empower consumers around the world with additional choices.
"I am excited our team will have access to PepsiCo's vast capabilities and resources to take us to the next level. This is great news for our consumers, employees and retail partners worldwide."
PepsiCo Chairman and CEO Indra Nooyi, a Greenwich resident, called PepsiCo and SodaStream "an inspired match."
"Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated," Nooyi said. "That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint.
"Together, we can advance our shared vision of a healthier, more sustainable planet."
The acquisition has been unanimously approved by the boards of directors of both companies. The transaction is subject to a SodaStream shareholder vote, certain regulatory approvals and other customary conditions, and closing is expected by January 2019.
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