PepsiCo’s Indra Nooyi denies interest in SodaStream
06 Jun 2013
PepsiCo today denied media reports that it is in talks to buy Israel's maker of home carbonated drinks system SodaStream International. It is "totally and completely untrue," PepsiCo CEO Indra Nooyi told CNBC.
Israeli financial newspaper The Calcalist today reported that PepsiCo is in talks to buy Nasdaq-listed SodaStream, for around $2 billion.
The paper went on to say that New York-based PepsiCo has already tabled its offer through Goldman Sachs, and may be even willing to pay more than $2 billion.
The report also said that SodaStream is exploring options like a deal with PepsiCo's rival Coca Cola Co before entering into advanced talks with PepsiCo.
SodaStream manufactures beverage carbonation systems, which allows consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water.
It offers convenience by eliminating the need to carry bottles home from the supermarket, to store bottles at home or to regularly dispose of empty bottles.
Its products are available at more than 55,000 retail stores in 43 countries, including home and electrical appliance stores, hypermarkets, supermarkets, department stores, convenience stores, DIY, specialty and "green" stores, water specialists and dealers, as well as online and in catalogs.
The company has 22 production sites in Israel and around the world, with two major factories in Negev and Alon Tavor in Israel. The company is building the Negev new plant designed to employ a thousand workers.