SodaStream Buying CEM Industries
NEW YORK (AP) -- SodaStream International Ltd., which makes beverage carbonation systems for use at home, is buying Italian beverage system maker CEM Industries S.R.L. Terms were not disclosed.
CEM's products include water carbonation, cooling and dispensing systems and related accessories.
The acquisition will help provide new products and features for SodaStream's core business of home carbonation, and will help it serve expand into new out-of-home channels such as offices and restaurants, SodaStream CEO Daniel Birnbaum said in a statement on Wednesday.
SodaStream, which is based in Israel, sells its systems at retailers such as Bed Bath & Beyond Inc., Macy's Inc. and Kohl's Corp. Its soda-making systems range from $79.95 to $249.95, according to its web site.
SodaStream went public in November. Its U.S. shares closed at $31.76 on Tuesday.