PepsiCo paying $3.2B for SodaStream International

PepsiCo said Monday it will buy SodaStream International, an Israeli company that sells products for making in-home carbonated beverages, in an all-cash deal worth approximately $3.2 billion. The deal marks one of the final strategic moves of outgoing CEO Indra Noyi, who has led the cola giant away from sugary drinks.

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SodaStream, which has production facilities in 13 nations, sells its home-carbonation products in 80,000 retail stores in 45 countries. The company's countertop products let customers use tap water to make flavored carbonated drinks.

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PEPPEPSICO INC.133.29-0.70-0.52%

"SodaStream is highly complementary and incremental to our business, adding to our growing water portfolio, while catalyzing our ability to offer personalized in-home beverage solutions around the world," said Ramon Laguarta, PepsiCo's president and CEO-elect.

The deal calls on PepsiCo to pay $144 per share in cash for all outstanding shares of SodaStream International.