SodaStream adds Kool-Aid to drink portfolio
(Reuters) - SodaStream International Ltd (SODA.O) is adding Kool-Aid powdered beverages to its lineup of drinks in an expanded deal with Kraft Foods Inc KFT.O, sending its shares up 5 percent.
SodaStream, which sells a system that lets consumers make carbonated drinks at home, already had a deal with Kraft that let it sell Crystal Light and Country Time drinks.
Kool-Aid for SodaStream will be available in stores during the fourth quarter, the companies said in a statement on Wednesday.
"We're pleased with the early success of Crystal Light and Country Time and believe that adding Kool-Aid will attract even more people to enjoy our flavors with personally-made carbonation," Doug Weekes, vice president, beverages, Kraft Foods, said in a statement.
SodaStream, which sells its soda-making machines, flavors, carbon dioxide refills and re-usable carbonation bottles around the world, launched in the United States, the world's largest market for carbonated drinks, about a decade ago.
It first partnered with Kraft to make the U.S. company's branded flavors available with its soda makers in January.
SodaStream shares were up $2.00, or 5.4 percent, at $39.25 in midday trading on the New York Stock Exchange.
(Nivedita Bhattacharjee in Chicago and Martinne Geller in New York; editing by Jeffrey Benkoe and Andre Grenon)