2 Beverage Companies Jim Cramer Says Aren't Getting Enough Recognition

Beverage companies aren't usually associated with disruption and innovation, but at least two names deserve credit for their recent M&A deals: PepsiCo, Inc. (NASDAQ: PEP) and Constellation Brands, Inc. (NYSE: STZ), according to CNBC's Jim Cramer.

PepsiCo

PepsiCo's acquisition of Sodastream International Ltd (NASDAQ: SODA) is the right move, as the maker of an at-home water carbonation kit is what millennials want, Cramer said during his daily "Mad Money" show Monday. SodaStream's carbonated water contains merely two ingredients: water and carbon dioxide, and certainly no label with an "endless list of unpronounceable artificial ingredients," the CNBC host said. 

Constellation Brands: Cannabis Going 'Mainstream'

Alcohol maker Constellation Brands' $4-billion investment in the cannabis company Canopy Growth Corp (NYSE: CGC) is a smart move, as recreational cannabis will be "going mainstream" whether individuals like it or not, Cramer said.

Investors should appreciate that the deal shows a willingness by Constellation to "put their present business at risk."

PepsiCo and Constellation Brands should be "celebrated," as both companies made multibillion-dollar investments to "own the future," Cramer said, adding that if neither company had sought out the deals, one of their competitors likely would have instead.

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