Beverages maker Pepsico has acquired Sodastream for $3.2 billion as the cola maker seeks to diversify its product range. Sodastream’s revenues had gone through a period of rapid growth with a 31.3% increase in revenues in 2Q having followed 24.5% in the first, S&P Global Market Intelligence figures show.

Sodastream’s business appears to be highly seasonal, with Panjiva data showing U.S. seaborne imports associated with the product peaking in July or August each year. The pattern in 2018 appears somewhat different with imports in the three months to May 31 – which will have driven 2Q sales – rising 89.6% before the imports in June and July fell 30.8% on a year earlier.

Chart shows U.S. seaborne imports associated with Sodastream. Lower panel indicates change vs. a year earlier.   Source: Panjiva

That may simply reflect a shift in sourcing strategies however for gases including carbon dioxide which fell 28.8% in June/July, possibly due to an EU production shortage and syrups which fell 18.1%. Imports of its signature syphon machines, which may reflect potential future demand, rose 6.1x over the same period.

Chart segments U.S. seaborne imports associated with Sodastream by product (HS-4).   Source: Panjiva