SodaStream Rises After Report It’s Testing PepsiCo BrandsDuane D. Stanford
SodaStream International Ltd. climbed the most in more than two years after a report that the Israeli maker of home soda machines is testing PepsiCo Inc. brands.
Shares of Lod, Israel-based SodaStream jumped 15 percent to $24.45 at the close in New York for the biggest gain since May 2012. PepsiCo rose 0.9 percent to $94.60.
SodaStream will test flavors called Pepsi Homemade and Sierra Mist Homemade for 10 weeks this year at Wal-Mart Stores Inc. and Bed Bath & Beyond Inc. in the Florida cities of Orlando and Tampa, Beverage Digest said. Dave Dececco, a spokesman for Purchase, New York-based PepsiCo, confirmed the report.
PepsiCo is evaluating several at-home makers, the newsletter said. PepsiCo is looking to counter Coca-Cola Co. and Keurig Green Mountain Inc., which teamed up to produce a pod-based at-home maker to be released next year with the soda maker’s brands.