PepsiCo will pay $144 per SodaStream share in cash, representing a 10.9 percent premium to Friday's closing price of SodaStream's USA -listed stock and a 32 percent premium to its 30-day average.
SodaStream shares have jumped 49 per cent this month after the company boosted its forecast for revenue growth this year to 23 per cent and reported first-half figures that beat estimates.
PepsiCo (PEP.O) will buy carbonated drink-machine maker SodaStream (SODA.TA) (SODA.O) for $3.2 billion as it battles Coca-Cola (KO.N) for an edge in the health-conscious beverage market. The stock rose 10 per cent to US$143.36 in premarket trading in the U.S.
SodaStream, which claims it is the largest sparkling water brand in the world, provides machines that enable consumers to make their own fizzy drinks or flavoured waters - meaning there is less need to buy bottles of drink. Coca-Cola Co. ventured into the segment in 2014 when it bought a stake in Green Mountain Coffee Roasters, though the soft-drink-making system they developed was discontinued in 2016 due to weak demand.
PepsiCo chairman and CEO Indra Nooyi says: "PepsiCo and SodaStream are an inspired match".
"Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste generated". 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".
Nooyi is stepping down from the top job at PepsiCo later this year, but the move shows that Pepsi's CEO-elect, Ramon Laguarta, will continue focusing on healthier alternatives.
And it follows in the footsteps of Plano-based Dr Pepper's recent acquisition by the parent of in-home-beverage maker Keurig.
Pepsi and Israeli-based company SodaStream already have an existing relationship, with Pepsi previously selling its cola on the platform in what the company called a "learning opportunity".
Goldman Sachs acted as financial advisor to PepsiCo and Centerview also acted as financial advisor to PepsiCo.
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