I would vote against PepsiCo buyout. Here's why:
First, I must confess, I do not own any $SODA. I never considered it as an investment, because I was unimpressed by the concept from a consumer's standpoint. I FAILED to consider that other people (not as smart as me, maybe..) ARE buying the system, apparently in droves. My assessment that the initial and continuing price points were so high that I would need to drink a grossly unhealthy amount of their (purportedly "healthier", "better") soft drinks in order to save enough money (vs. buying BigCola in stores), SHOULD HAVE told me to buy in on the "ripping off consumers" side of the business. So.. I don't have a dog in this fight. No matter.
Here's the thing. Consider Keurig. You can get K-cups that are branded "Starbucks", and others branded "McCafe"(McDonalds). In the same way, you can now buy actual Pepsi syrup and use it with your Sodastream system to " make your own Pepsi at home". BUT... If Starbucks decided to buy out Keurig.. then the ONLY authentic K-cups you could get would be Starbucks cups. If you bought your Keurig in order to enjoy a variety of flavors from various small, independent roasters - to escape the limitations of buying from the few giants in the industry - that opportunity is lost if Keurig is absorbed by Starbucks. (In fact, Keurig version 2 machines have an infrared ink tag sensor to prevent them being used with "copycat" brewcups.) If Sodastream is absorbed by PepsiCo, all of the SS brand syrups would be replaced by Pepsi brand syrups - identical to the 3 and 5 gallon bag-in-box Pepsi syrups you can buy at Gordon Foods, but the retail size bottles will cost significantly more. A LARGE part of $SODA's marketing has been about having freedom and independence from the BigCola monopoly, and many SS system buyers liked that part of it. That is totally wiped out if SODA folds into PepsiCo - instead of SODA being a wild, free stallion roaming the prarie, it will be transformed into a blindered draft horse, pulling Pepsi's wagon where Pepsi wants it to go. It will become just another avenue to promote the Pepsi brands. That is the polar opposite of the philosophy which got SODA to where it is today - and that philosophy is largely the foundation of SODA's value. That value is completely lost if SODA becomes a unit of PepsiCo.
So.. this looks like a self-fulfilling prophesy.. whichever way the majority of SODA shareholders vote, is the "right" way to vote.. if $SODA shareholders decide to sell, PepsiCo's 3.2Bn wasted dollars will sit well in your accounts. If $SODA shareholders decide not to sell out, the company retains the business model which brought it here, and presumably the company continues to succeed, and possibly attracts a sweeter offer later. Maybe from Keurig. Who knows.
I would be voting "no sale", hoping for the latter outcome. If the vote turns out to be "sell", I'd DEFINITELY be looking for another company to come out with an "anti BigCola" home carbonation system, and I'd be investing there like I should have bought $SODA in 2016.
