Israeli firm SodaStream's shares rally on test to sell PepsiCo drinks
The 10-week trial will begin in a few weeks at Wal-Mart Stores Inc and Bed Bath & Beyond Inc in Orlando and Tampa, Florida.
By REUTERSSodaStream pitchwoman Scarlett Johansson(photo credit: Courtesy)
Shares of SodaStream International Ltd surged on Friday after the at-home soda machine maker said it would sell some PepsiCo Inc brands in a limited test.The 10-week trial will begin in a few weeks at Wal-Mart Stores Inc and Bed Bath & Beyond Inc in Orlando and Tampa, Florida, trade publication Beverage Digest reported. The brands in the test, Pepsi Homemade and Sierra Mist Homemade, are sweetened with sugar and stevia, and not sold in stores, it added.A Pepsi spokesman confirmed the report.SodaStream shares surged as much as 24 percent, before trading up 16 percent at $24.56 early Friday afternoon. Pepsi rose 1 percent to $94.64."At-home, make-your-own beverages represent an emerging category that has generated interest among some consumers," Pepsi said in a statement."PepsiCo is exploring multiple technologies in this space. SodaStream is one of several companies we're talking to about potential ideas."The Israeli company is not in talks with Pepsi for a broader agreement, it said in a regulatory filing on Friday.
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