(By Balaseshan) SodaStream International Ltd. (NASDAQ: SODA) announced a strategic license deal with Ocean Spray Cranberries Inc. to license a portfolio of juice blend concentrates co-developed exclusively for the SodaStream home beverage carbonation system for undisclosed terms.
With over 30% of Ocean Spray Cranberry juice drinkers mixing their juice with sparkling water at home, the partnership builds on an already familiar consumer behavior. SodaStream said the agreement helps consumers to enjoy the crisp, vibrant taste of sun-ripened cranberries combined with the excitement and refreshment of bubbles.
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Initial flavors will include regular and diet versions of Cranberry, Cranberry-Grape and Cranberry-Raspberry. The products are expected to be available during the second half of 2013 in the United States and Canada.
"We believe this relationship further demonstrates the appeal of SodaStream as a smart, empowering choice for consumers looking to enjoy carbonated beverages of their favorite flavors at home, made fresh and exactly as they want it each time," said Daniel Birnbaum, CEO of SodaStream.
The Airport City, Israel-based SodaStream is a manufacturer and distributor of home beverage carbonation systems which enable consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water.
SodaStream offers a range of soda makers; exchangeable food-grade carbon-dioxide (CO2) cylinders and refills, reusable plastic (BPA-free) or glass carbonation bottles, and about 150 flavors comprising regular or diet, such as cola, lemon-lime, orange, a range of all-naturals, fruits, green teas, energy, mixers, Stevia-sweetened, and others.
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SODA is trading up 4.72% at $48.56 on Wednesday. The stock has been trading between $28.28 and $53.99 for the past 52 weeks.