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PepsiCo completes purchase of Israel's SodaStream

AFP  |  Jerusalem 

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

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, empowers consumers to personalise their in an environmentally friendly way and provides with a significant presence in the at-home marketplace," PepsiCo 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."

said his company "was founded to bring healthy, convenient and environmentally to consumers around the world -- and PepsiCo will help us deliver and expand on this mission."

PepsiCo and arch-rival have been diversifying away from their mainstay sodas in part to counter the onset of anti-obesity sugar taxes around the world.

The acquisition was also seen as a pitch to consumers concerned about mounting waste from soda cans and in landfills around the world, since employs reusable bottles.

PepsiCo has committed to keeping for 15 years.

SodaStream has not been immune to the complex politics in its home region.

In 2015, SodaStream shut down a plant in the occupied following a boycott campaign that included targeting after she advertised its product.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 05 2018. 15:50 IST