New York, NY, United States (4E) – PepsiCo rejected a report on Thursday saying that the food and drink giant is in buyout negotiations with Israel’s SodaStream International in a deal valued more than $ 2bn.
Israeli financial newspaper Calcalist said in its report that PepsiCo plans to acquire the Airport City, Israel-based SodaStream and talks are in the advanced stages.
The paper reported that PepsiCo has offered up to $ 95 for every SodaStream share, the Calcalist said. New York-based investment bank Goldman Sachs prompted the discussion between the two firms, the paper reported.
A spokesperson for PepsiCo said in an e-mail statement said that the buyout report is completely false. Rival Coca-Cola also did not comment on a report from another newspaper that it may bid for SodaStream.
Under Chief Executive Daniel Birnbaum, SodaStream’s revenue last year rose 51 per cent to $ 436.32mn. The Israeli-based company currently employs 2,200 people.
SodaStream, which became a public company in 2010 with a market capitalization of $ 367mn, is posting strong growth amid slowdown in the $ 183bn global carbonated beverage market. By 2016, the company seeks to have its sales doubled to $ 1bn.