Dive Brief:
- SodaStream's global revenue fell 12.9% in the third quarter., and North American revenue plummeted 41%. The Israeli company also lowered its sales and profit forecasts for the remainder of the year.
- The maker of at-home soda machines said it would seek growth by refocusing, placing an emphasis on sparkling waters rather than sodas.
- The company also said it would close its controversial facility in the occupied territories of Palestine. Activists have led a boycott of SodaStream to protest that plant's presence.
Dive Insight:
SodaStream, once the darling of Wall Street, has fallen on some very tough times. Like everyone else in the soda business, it's had to deal with the changing tastes of consumers. More troubling, the company had become a magnet for controversy because of its facility in a West Bank settlement.
SodaStream seems to have decided to tackle both issues. That, combined with a test deal with Pepsi, may be just enough to revive the company.