PepsiCo Buys SodaStream in Deal Valued at $3.2Bln

   By Donato Paolo Mancini

PepsiCo Inc. (PEP) will acquire all outstanding shares in SodaStream International Ltd. (SODA) in a deal valued at $3.2 billion, the companies said Monday.

PepsiCo will acquire all outstanding shares in SodaStream for $144 a share in cash, and will be funded with PepsiCo's cash on hand, the companies said.

The price represents a 32% premium to the 32-day volume weighted average price for the stock, the companies said.

"PepsiCo and SodaStream are an inspired match," PepsiCo Chairwoman and CEO Indra Nooyi said. The companies will combine PepsiCo's distribution capabilities and global reach with SodaStream's differentiated product range.

The boards of directors at both companies have unanimously approved the transaction and the deal is expected to close by January 2019, subject to a SodaStream shareholder vote, regulatory approvals and customary conditions.

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com

(END) Dow Jones Newswires

August 20, 2018 02:47 ET (06:47 GMT)

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