Starbucks To Buy 10% Stake in SodaStream
Starbucks is in advanced talks to buy 10 percent of Israeli home soda machine company SodaStream, an Israeli business daily reported.
Shares of SodaStream jumped more than 10 percent following the report Wednesday in Globes.
The newspaper said that an announcement of the purchase, at a company value of $1.1 billion, is expected “soon.”
Starbucks left the Israeli market about a decade ago, after Israeli customers indicated their preference for purchasing their coffee from other companies.
Neither company would comment in the media to the report.
SodaStream has been in the news in recent months following the signing of actress Scarlett Johansson as a spokeswoman for the company. Johansson resigned as a global ambassador for Oxfam over her position with the company, which operates a factory in the West Bank and employs both Jewish and Palestinian workers.
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
Now more than ever, American Jews need independent news they can trust, with reporting driven by truth, not ideology. We serve you, not any ideological agenda.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and the protests on college campuses.
Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.
Make a gift of any size and become a Forward member today. You’ll support our mission to tell the American Jewish story fully and fairly.
— Rachel Fishman Feddersen, Publisher and CEO
Join our mission to tell the Jewish story fully and fairly.