PepsiCo is entering the in-home beverage market with the purchase of SodaStream, which makes countertop devices for creating carbonated drinks.
The estimated $3.2 billion dollar acquisition is expected to close by January
2019. It’s the latest in a series of moves by PepsiCo to diversify away from sugary sodas and salt snacks.
According to a CNBC report, the deal gives PepsiCo a new line through which it can reach customers in their homes rather than through stores.
"PepsiCo is finding new ways to reach consumers beyond the bottle," said PepsiCo President Ramon Laguarta, who will succeed current CEO Indra Nooyi as CEO on Oct. 3. Nooyi announced her plans to step down earlier this year.
Another new tack for PepsiCo is the development of an ‘incubator’ company within the larger corporate organization. Called “The Hive,” the new unit will operate on a smaller scale to develop emerging brands such as Maker Oats and Stubborn Soda.
PepsiCo expects The Hive to be up and running by the beginning of 2019.