SodaStream to give out bonuses to mark $3.2 billion sale to PepsiCo
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SodaStream to give out bonuses to mark $3.2 billion sale to PepsiCo

Company’s 3,000 employees will get NIS 18,000 ($4,950) at the end of 2018 if they’ve been employed for at least a year

SodaStream CEO Daniel Birnbaum (l) and PepsiCo’s CEO Ramon Laguarta at the SodaStream factory in Israel’s Negev Desert next to the city of Rahat on August 20, 2018. (Eliran Avital)
SodaStream CEO Daniel Birnbaum (l) and PepsiCo’s CEO Ramon Laguarta at the SodaStream factory in Israel’s Negev Desert next to the city of Rahat on August 20, 2018. (Eliran Avital)

SodaStream employees will be getting a bonus by the end of year to mark the planned acquisition of the maker of home seltzer machines by US-based drinks, food and snacks giant PepsiCo for $3.2 billion in cash.

In a letter on Monday, SodaStream CEO Daniel Birnbaum told the company’s 3,000 employees, some 2,500 of whom work in Israel, that they’ll be getting a special bonus of NIS 18,000 ($4,950), provided they have been employed for at least a year at the Israeli firm.

Workers who have been employed for less than a year will get prorated bonuses. The amounts will be paid out in December, with the closing of the deal, Birnbaum said.

Last week, PepsiCo said it has entered a deal to acquire SodaStream in a bid to contend with falling demand for sugar-laden soft drinks and greater environmental consciousness.

Employees working at the SodaStream factory in Israel’s Negev Desert next to the city of Rahat, September 2, 2015. (Dan Balilty/AP Images)

“What a special and emotional week we have had,” Birnbaum wrote in a letter to employees, the text of which was sent to The Times of Israel. “We received so much love and praise from all over the world, but it was especially exciting to experience the pride” of SodaStream’s employees and the national pride that arose from the deal, he wrote.

The bonuses will be given to celebrate “the exciting milestone” of the sale and in appreciation of the contribution of the employees to the success of the firm, Birnbaum wrote.

“I am hopeful that you are as proud as I am to be ‘Streamers,’ especially in these days, and that you are excited for our joint future with PepsiCo. We continue with all our might in our journey to make the world a better place. It will be great fun. This is just the beginning,” he wrote.

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