Push the blender to the side! Whirlpool (NYSE: WHR) and SodaStream (NASDAQ: SODA) jointly announced Monday they are collaborating on introducing a KitchenAid-branded home carbonation system in the fourth quarter this year.
Noting the growth and popularity in home carbonation systems, Whirlpool General Manager of KitchenAid Small Appliances David Elliott was quoted as saying, "Working with SodaStream brings together their best-in-class technology with our stylish design signature to offer a premium product for our consumers worldwide."
KitchenAid's first product, the stand mixer, was introduced in 1919 while its first dishwasher was brought to market in 1949.
With such an iconic portfolio, SodaStream CEO Daniel Birnbaum said, "Our unique platform will enable KitchenAid to provide its large and loyal consumer base with the many benefits of home carbonation. We look forward to leveraging the combined strengths of our two brands to advance the category and reach an even broader global audience."
The terms of the deal were not disclosed.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends SodaStream. The Motley Fool owns shares of SodaStream. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.