PepsiCo completes purchase of Israel's SodaStream

PepsiCo announced Wednesday it had completed its acquisition of Israeli firm SodaStream, whose command of the fizzy water market appealed to the US beverage giant as demand falls for sugar-laden soft drinks.

PepsiCo said in August that it was buying the Israeli company that makes machines to carbonate home tap water for $3.2 billion.

"With its customisable options, SodaStream empowers consumers to personalise their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace," PepsiCo CEO Ramon Laguarta said in a statement.

"Together with SodaStream, I'm confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future."
SodaStream CEO Daniel Birnbaum said his company "was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world -- and PepsiCo will help us deliver and expand on this mission."