EXHIBIT 8.1



List of Subsidiaries



|Name of Subsidiary                                                           |  | Jurisdiction             |  | Ownership Interest |    
|---------------------------------------------------------------------------- |  | ------------------------ |  | ------------------ | ---
|                                                                             |  |                          |  |                    |    
|SodaStream
    Enterprises N.V.                                              |  | Netherlands Antilles     |  |                    | 100
|SodaStream
    International B.V.                                            |  | The Netherlands          |  |                    | 100
|Soda-Club Worldwide
    B.V.                                                 |  | The Netherlands          |  |                    | 100
|SodaStream
    GmbH                                                          |  | Germany                  |  |                    | 100
|SodaStream
    Industries Ltd.                                               |  | Israel                   |  |                    | 100
|SodaStream
    Israel Ltd.                                                   |  | Israel                   |  |                    | 100
|SodaStream
    Österreich GmbH                                               |  | Austria                  |  |                    | 100
|SodaStream
    Australia PTY Ltd.                                            |  | Australia                |  |                    | 100
|SodaStream
    (New Zealand) Ltd.                                            |  | New Zealand              |  |                    | 100
|SodaStream
    (SA) (Pty) Ltd.                                               |  | South Africa             |  |                    | 100
|SodaStream
    USA, Inc.                                                     |  | Delaware (United States) |  |                    | 100
|SodaStream
    Direct LLC                                                    |  | Delaware (United States) |  |                    | 100
|Soda-Club CO2Ltd.                                                            |  | British Virgin Islands   |  |                    | 100
|Soda-Club (Europe)
    Limited                                               |  | United Kingdom           |  |                    | 100
|Soda-Club Switzerland
    GmbH                                               |  | Switzerland              |  |                    | 100
|Soda-Club (CO2)
    SA                                                       |  | Switzerland              |  |                    | 100
|SodaStream
    (CO2) SA                                                      |  | Switzerland              |  |                    | 100
|Soda-Club (CO2)
    Atlantic GmbH (LLC)                                      |  | Switzerland              |  |                    | 100
|SodaStream
    (Switzerland) AG                                              |  | Switzerland              |  |                    | 100
|Soda-Club Worldwide
    BV Sp. Z.O.O Oddziel w polsce Branch                 |  | Poland                   |  |                    | 100
|SodaStream
    Worldwide Trading Company Branch                              |  | United Kingdom           |  |                    | 100
|Soda-Club Worldwide
    BV Holland Filial (Sweden) Branch                    |  | Sweden                   |  |                    | 100
|SodaStream
    Nordics AB                                                    |  | Sweden                   |  |                    | 100
|Soda-Club Worldwide
    BV (France) Branch                                   |  | France                   |  |                    | 100
|Soda-Club Worldwide
    BV (Greece) Branch                                   |  | Greece                   |  |                    | 100
|SodaStream
    Professional S.R.L.                                           |  | Italy                    |  |                    | 100
|SodaStream
    International BV Norwegian Branch                             |  | Norway                   |  |                    | 100
|SodaStream Denmark Branch Filial
    of SodaStream International BV, Holland |  | Denmark                  |  |                    | 100
|SodaStream
    International BV Branch in Finland                            |  | Finland                  |  |                    | 100
|SodaStream
    Canada Ltd.                                                   |  | Canada                   |  |                    | 100
|SodaStream
    India Ltd.                                                    |  | India                    |  |                    | 100
|SodaStream
    K.K.                                                          |  | Japan                    |  |                    | 100
|SodaStream
    International BV Branch in Italy                              |  | Italy                    |  |                    | 100