SodaStream...For Beer?
Shares of Sodastream International Ltd (NASDAQ: SODA) surged higher by more than 11 percent early Tuesday morning after the company announced it will begin selling a home beer making system.
Sodastream, best known for its at-home carbonated water making kit, added that its new "Beer Bar" kit will allow consumers the ability to create crafted beer in seconds by adding a "Blondie concentrate" to Sparkling Water.
"We are excited to launch a brand dedicated to serving the global growing trend of home crafted beer," said Daniel Birnbaum, CEO of SodaStream. "Our core carbonation technology and distribution infrastructure provide a great platform for us to extend our business into this emerging category, and we choose to do so with a dedicated beer brand."
The new beer making kit will be initially launched in Germany and will be expanded to other markets in late 2016 and 2017.
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