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The $3.2 billion purchase price means Pepsi will pay $144 per SodaStream share-a 32% premium over its 30-day volume-weighted average price.

PepsiCo will buy the Israel-based DIY soda company SodaStream in a deal worth $3.2 billion (£2.5 billion). The company has seen its share price skyrocket since it went public in 2010 and has had a really strong couple of years, jumping 85 per cent in the past year alone.

With soft-drink sales hurting in recent years as consumers shy away from sugary beverages, SodaStream Chief Executive Officer Daniel Birnbaum has shifted the company's marketing to focus on how the machines can produce carbonated water, without the flavoured syrups.

As consumers' tastes change, Purchase, New York-based PepsiCo has launched a sparkling, flavored water brand called Bubly, a nod to the success of drinks like La Croix.

It reported a 31% year-over-year jump in revenues to $172m (£134m), an 89% leap in operating profit to £32m (£25m) and an 82% climb by net profit to £26m (£20m).

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The deal announced on Monday may be the last for PepsiCo Chief Executive Indra Nooyi, who will hand over to Ramon Laguarta later this year. The company's fizzy drink maker was a hot item in Britain in the 1970s and 80s, Reuters writes, "but its popularity faded as bottled sodas became cheaper".

After Coca-Cola bought the stake in Green Mountain in 2014, Nooyi said in an interview PepsiCo would avoid committing to a single technology in at-home soda makers. PepsiCo's move can be seen in the context of global food and drinks companies increasingly looking to acquire companies with more health-conscious credentials.

Three years ago, SodaStream shut down its West Bank factory amid worldwide boycott calls and opened a sprawling new factory deep in Israel's Negev Desert instead, although the company remains a boycott target despite the move. SodaStream has argued that boycotts and protests have hurt Palestinians more than helped them.

PepsiCo was advised by Goldman Sachs and Centerview, while SodaStream was advised by Perella Weinberg Partners.


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