Drinks giant PepsiCo has agreed a deal to acquire sparking water brand SodaSteam in a deal worth $3.2bn (£2.5bn).


PepsiCo, which owns brands such as Tropicana, will acquire all outstanding shares in SodaStream for $144 per share in cash, a premium of 32%.


PepsiCo Chief Executive, Indra Nooyi, who steps down in October, said the deal was an ‘inspired match’ and aligned all the philosophy of making more nutritious products.


Given the growing trend away from sugary soft drinks, encouraged by changes such as the UK sugar tax, PepsiCo highlighted the deal fits with it’s strategy of ‘finding new ways to reach consumers beyond the bottle’.