SodaStream to Acquire its Nordics and Baltics Distribution Rights
SodaStream has obtained distribution infrastructure, including all customer agreements, as well as personnel that are involved in the selling and marketing of SodaStream in the region.
Dec 27 2011 --- SodaStream International, Ltd. announced that it will purchase its Nordic and Baltic distribution business, and all related assets, from its exclusive distributor, Empire AB, for a total net cost of 7.8 million euro. SodaStream will now directly distribute its products in Sweden, Finland, Norway, Denmark, Estonia, Latvia and Lithuania. The acquisition is being made by SodaStream International, B.V., a wholly owned subsidiary of SodaStream International, Ltd. Closing is expected to occur during the first week of January 2012.
"Empire AB did a great job building a sizeable SodaStream business in this region, particularly Sweden where we enjoy 25% household penetration and own more than 10% of the entire off-premise carbonated beverage category," stated Daniel Birnbaum, CEO of SodaStream. "We are excited to assume distribution in this large and successful market and look forward to capturing higher margins on sales of our soda makers and portfolio of consumable products. Under our management, we believe there are significant opportunities to further expand our presence throughout this region, and plan to execute marketing campaigns around existing and new product offerings to increase our large and growing user base."
In connection with this acquisition, SodaStream has obtained distribution infrastructure, including all customer agreements, as well as personnel that are involved in the selling and marketing of SodaStream in the region. The Company has also entered into a services agreement with Empire AB to ensure a smooth transition of back office and logistical support.
