PepsiCo Inc., Purchase, N.Y., has completed its acquisition of SodaStream International Ltd., Airport City, Israel, as previously announced, acquiring all outstanding shares for $144 a share.

“I couldn’t be prouder or more excited to welcome SodaStream to the PepsiCo family,” said Ramon Laguarta, PepsiCo chief executive officer (CEO), in a statement. “With its customizable options, SodaStream empowers consumers to personalize their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace. Together with SodaStream, I’m confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future.”

The transaction is another step in PepsiCo’s Performance with Purpose journey, supporting health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions, and the company’s Beyond the Bottle strategy to form a more sustainable beverage ecosystem, it says. PepsiCo’s research and development capabilities, global reach, design and marketing expertise, combined with SodaStream’s differentiated and unique product range position SodaStream for further expansion and breakthrough innovation, it adds.

PepsiCo’s Performance with Purpose initiative is the company’s fundamental belief that the success of the company is inextricably linked to the sustainability of the world around us, it says.

Daniel Birnbaum, SodaStream CEO and director, said: “We are thrilled to become part of PepsiCo and join its diverse and talented team. SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world — and PepsiCo will help us deliver and expand on this mission. With some of the world’s leading marketing and R&D teams, and access to new markets and channels, we are excited to grow hand-in-hand with PepsiCo in the months and years to come.” BI