PEPSI BUYS SODASTREAM FOR 3.2 BILLION DOLLARS
Beverage and snack giant PepsiCo announced plans to buy the at-home carbonated drink maker SodaStream for $3.2 billion.
The deal gives PepsiCo a new line through which it can reach customers in their homes rather than through stores. It comes as U.S. grocers are in a state of transformation, with 70 percent of shoppers expected to buy groceries online by 2025, according to Food Marketing Institute and Nielsen.
With this move, PepsiCo is doubling down on its drinks business, which has struggled in North America as consumers move away from sugary, carbonated beverages. PepsiCo's acquisition of SodaStream is expected to close by January, subject to a SodaStream shareholder vote and regulatory approvals.