PepsiCo expands availability of soda caps for SodaStream machines
PepsiCo Inc (PEP.N) said it would offer caps filled with Pepsi and Sierra Mist drink mixes for at-home soda machines made by SodaStream International Ltd (SODA.O) on more platforms as it tests the homemade beverages market for its products.
PepsiCo said the caps would be made available on SodaStream's website and in about 50 Bed Bath & Beyond Inc (BBBY.O) stores in the United States.
SodaStream said in October last year that it would sell some PepsiCo brands in a limited test in Florida.
A four-cap pack will be priced at $3.49, with each cap making about half a liter of soda, PepsiCo said on Friday.
SodaStream shares rose as much as 9 percent after the Wall Street Journal first reported the news.
PepsiCo said it was exploring multiple technologies in homemade products and SodaStream was one of several companies it was talking to.
SodaStream was not immediately available for comment.
Israel-based SodaStream, once a fast-growing company, has reported shrinking sales in the past year as U.S. consumers opt for juices, teas and other drinks perceived as healthier than soda.
Coca-Cola Co (KO.N) has partnered with K-cup pods maker Keurig Green Mountain Inc (GMCR.O) to introduce a cold beverage machine, Keurig Kold, for use at home this fall. Coca-Cola holds a 16 percent stake in SodaStream rival Keurig.
Keurig has faced investor skepticism over its move into the homemade cold beverage market, partly due to waning consumer enthusiasm for soft drinks.
SodaStream shares were up 6.7 percent at $15.81 in afternoon trading, while Pepsi shares were little changed at $91.22.
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