PepsiCo has agreed to buy fizzy-drinks dispenser SodaStream for $3.2bn, sending the company synonymous with sugary drinks into the homes of more health-conscious consumers. Pepsi will pay $144 a share in cash for the Israeli company, the companies said in a statement on Monday. That’s 11% higher than Friday’s closing price and would be the company’s largest acquisition in eight years. In one of her final acts as CEO of Pepsi, Indra Nooyi is betting on a razors-and-blades kind of business model to reanimate revenue growth that has been waning due to weak demand for traditional sugary soft drinks. SodaStream sells machines used with compatible carbon dioxide capsules and optional flavoured syrups, and its success in locking in customers allowed it to recently raise its full-year outlook. Pepsi said the move was also intended to boost sustainability because consumers filled reusable bottles. "Time will tell if this is a good move — it caught me by surprise," said Ken Shea, an analyst a...

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