PepsiCo buys Sodastream for $3.2bn

PepsiCo has announced it is buying Sodastream for $3.2bn. Israel-based Sodastream makes a machine and refillable cylinders allowing users to make their own carbonated drinks. Under the terms of the deal, PepsiCo will buy all outstanding shares of Sodastream for $144 each. PepsiCo president Ramon Laguarta, who will succeed Ms Nooyi on 3 October, said in a statement that Sodastream was "Highly complementary and incremental" to Pepsi's business. He added: "PepsiCo is finding new ways to reach consumers beyond the bottle." If regulators approve the deal, it is expected to be finalised by January 2019, subject to a vote by Sodastream shareholders.

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