PepsiCo announced on Wednesday the completion of its $3.2 billion acquisition of the Israel-based carbonated drink-maker SodaStream.The American food and beverage giant will acquire all outstanding shares for $144 per share, as agreed by the companies in August, with the acquisition representing part of its “performance with purpose” strategy, linking the success of PepsiCo to global sustainability. “I couldn’t be prouder or more excited to welcome SodaStream to the PepsiCo family," said PepsiCo CEO Ramon Laguarta. “With its customizable options, SodaStream empowers consumers to personalize their preferred beverage in an environmentally friendly way and provides PepsiCo with a significant presence in the at-home marketplace.Together with SodaStream, I’m confident we can accelerate progress on our shared goal of curbing plastic waste and building a more sustainable future.”Announcing the proposed acquisition in August, Laguarta said SodaStream would continue to be based in Israel for at least 15 years, if not indefinitely. PepsiCo added it was planning to open a further manufacturing facility in Israel following the closure of the deal.“We are thrilled to become part of PepsiCo and join its diverse and talented team,” said Sodastream CEO and director Daniel Birnbaum. “SodaStream was founded to bring healthy, convenient and environmentally friendly beverage options to consumers around the world, and PepsiCo will help us deliver and expand on this mission.”According to a document issued to SodaStream shareholders in September, PepsiCo considered the retention of current company employees as “key to the success of the merger” and accordingly developed a cash and equity retention program for Birnbaum and other SodaStream executive officers. The US-born Birnbaum is set to earn $4 million in time-based cash awards, $10m. in time-based equity awards vesting over the next three years, and up to $20m. for performance-based equity awards over the same period.SodaStream’s other executive officers are set to receive $1.9m. in time-based cash awards, $3.6m for time-based equity awards, and up to $1.8m. for performance-based equity awards.The company’s employees will also share approximately $23.5m. in cash and equity awards, in addition to approximately $12.5m. for employees not participating in SodaStream’s equity plans.