PepsiCo CEO denies reports of purchase deal for Israel's SodaStream
According to CNBC, earlier reports that international beverage giant PepsiCo was negotiating purchase of SodaStream for roughly $2 billion are 'completely untrue.'
PepsiCo CEO Indra Nooyi said on Thursday that reports about her company being in talks to purchase Israel's SodaStream International are "totally and completely untrue," according to CNBC.
Earlier on Thursday, reports surfaced claiming that the international beverage giant was in talks with Israeli venture SodaStream International, which manufactures machines that make carbonated drinks from tap water.
The original report stated that PepsiCo was willing to purchase the Israeli company for roughly $2 billion.
SodaStream, which also makes flavored syrups, carbon dioxide refills and re-usable bottles, was listed on Nasdaq in 2010 and has a market valuation of $1.4 billion.
Global sales at SodaStream, which sells at upscale department stores such as Harrods, as well as at budget chains like U.S. group Target Corp, have risen more than threefold since 2009. The group booked sales of over $436 million last year, with net profit up 18 percent to $44 million.