It's revival put the fizz back into Sodastream's business Now the Israeli firm which produces the device for making carbonated drinks is selling.

PepsiCo has offered to pay $3.2 billion for Sodastream as it battles Coca-Cola for an edge in the health-conscious beverage market. (SOUNDBITE) (English) RAMON LAGUARTA, INCOMING CEO OF PEPSICO, SAYING: "This acquisition builds on Pepsico's water forward strategy - while adding a leading personalised at home beverage option to our portfolio.

It gives immediate presence in markets where Pepsico is underserved." Sodastream was founded in Britain in 1903.

It became trendy in the 70's and 80's But sales went flat when bottles proved cheaper.

Under Israeli ownership a new revival took place, one which Sodastream hopes to continue. (SOUNDBITE) (Hebrew) DANIEL BIRNBAUM, SODASTREAM CEO, SAYING: "This is not an exit.

Nobody came and purchased and took away and is going to shut it down and relocate it to a foreign country, to China or elsewhere.

This is an entrance, an investment of a huge international company." PepsiCo will pay $144 per share in cash, that's an 11 percent premium on Friday's U.S. closing price and 32 percent more than its 30-day average.

Sodastream's shares rose 10 percent after the deal was announced. putting a threatened boycott in 2014 over a factory it had in a Jewish settlement of the West Bank firmly behind it.

It now has a much larger facility in southern Israel.