PepsiCo CEO denies SodaStream interest
Market sources say PepsiCo and Coca-Cola are in talks to buy SodaStream but PepsiCo CEO Indra Nooyi issued a denial.
However, PepsiCo CEO Indra Nooyi claimed that it was the "first time" she had heard about the talks.
SodaStream, managed by CEO Daniel Birnbaum, has a market cap of $1.43 billion. However, following reports of the talks, the company's share price, which closed on Nasdaq last night at $69.35, rose more than 20% during German floor trading this morning but fell back following pepsiCo's denials.
SodaStream said that it does not comment on speculation and rumors.
SodaSteam has eight plants in Israel and ten more factories worldwide and exports products to 45 countries. The company saw revenue rise 55% in 2012 to $440 million. SodaStream sees 25% revenue and profit growth in 2013. Profit in 2012 was $50 million.
Much of SodaStream's marketing has revolved around slamming the amount of plastic garbage generated by the disposable bottles of Coca Cola, PepsiCo and other soft drink manufacturers, while the Israeli company emphasizes the environmental friendliness of its recyclable bottles.
Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
- Tel Aviv market report
- Tel Aviv Stock Exchange
- Israeli stocks in NY
- Arbitrage gaps for dual-listed stocks
- Israeli stocks in Europe
- Israeli stocks on other markets
- Tel Aviv 25 options
- Mutual funds
- Current representative shekel rates
- Historical representative shekel rates
- Bank shekel rates
- Shekel/dollar options