2 months after Keurig Green Mountain announces joint venture with Coca Cola, SodaStream stocks rally after Israeli daily reports brewing deal with Starbucks.
Starbucks & SodaStream declined to comment.
By Hili Yacobi-Handelsman, Reuters & Israel Hayom Staff
SodaStream International Ltd. shares rose as much as 17 percent on Wednesday in the wake of a Globes report that the coffee giant Starbucks was in advanced talks to buy 10% of the Israeli-based home soft-drink maker.
SodaStream and Starbucks may be close to a partnership deal, a new report claims – Photo: AP
“There are always rumors surrounding the company. The company has not responded to rumors in the past, and it will not respond now,” a SodaStream spokesperson told Globes. Starbucks declined to comment on the reported deal.
In February, Coca Cola Co. took a $1.3 billion stake in Keurig Green Mountain, maker of the Keurig one-cup coffee brewer, with plans to jointly launch a home soda-maker machine, prompting speculation SodaStream would pursue its own partnership with a company.
Last week, Israeli financial news daily Calcalist reported that SodaStream was in early talks to sell 16% of the company to a potential investor, including PepsiCo Inc., Dr. Pepper Snapple Group, or Starbucks.
The fact that SodaStream has manufacturing facilities in Judea and Samaria has had pro-Palestinian groups calling for a boycott. Just recently, the company’s presenter, actress Scarlett Johansson, has come under fire for promoting the soft-drink maker. Johansson also used to work for the charity organization Oxfam, but the two ended their relationship after the latter disapproved of her association with the Israeli company.
View original Israel Hayom publication at: http://www.israelhayom.com/site/newsletter_article.php?id=17047