PepsiCo Chief Financial Officer Hugh Johnston tells TheStreet there are "no plans" to bring the company's brands in pod form to SodaStream. Instead, Johnston says PepsiCo will leverage its $3.2 billion acquisition by expanding distribution for the SodaStream machine overseas.
Johnston tells TheStreet the deal came together within the last few weeks for several reasons. First, PepsiCo became convinced SodaStream's string of solid quarters were sustainable. And secondarily, SodaStream's team -- which has had no qualms poking fights with the big soda companies -- became comfortable that PepsiCo would be a good cultural fit after meeting with the team.
PepsiCo is a holding in Jim Cramer's Action Alerts PLUS.
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