PepsiCo Just Bought SodaStream In A $3.2 Billion Deal
The battle between soft drink giants PepsiCo and Coca-Cola just heated up, with PepsiCo hoping to achieve an edge over their rivals in the ‘healthier drinks’ segment after purchasing SodaStream in a $3.2 billion deal! The at home sparkling water maker had railed on PepsiCo in the past over their heavy use of plastic, a tenet that PepsiCo hopes to use to their advantage as they aim to both reduce plastics and move into healthier beverages.
SodaStream was founded in 1903 and became a highly demanded product in British kitchens in the 1970s and 80s, allowing customers to create fizzy drinks by adding flavoured syrups to carbonated water. However, its popularity dropped after soft drinks became cheaper.
Hey dehydration, take a hike! Recover post-trek with bubs and foot rubs. Tag your hiking bud! pic.twitter.com/Zd5eE1OMyg
— SodaStream USA (@SodaStreamUSA) August 21, 2018
Now, the Israel based company now focuses on turning water into sparkling water in an effort to tap into younger, more heath, and environmentally conscious customers. In a statement, PepsiCo said that the transaction had been approved by both the boards and would be closed by January 2019 in an effort to “promoting health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions”.
After PepsiCo’s partnership with Keurig failed to take off, here’s hoping that consumers are more environmentally conscious this time around.