Vending

Coca-Cola to acquire BodyArmor for $5.6 B

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November 1, 2021

The Coca-Cola Co. today announced that it has acquired full ownership of BodyArmor, a line of sports performance and hydration beverages for $5.6 billion, according to a press release.

In 2018, Coca-Cola initially acquired a 15% stake in BodyArmor with a path to full ownership, based on a pre-determined discount. Coca-Cola is paying $5.6 billion in cash for the remaining 85% of the company.

BodyArmor will be managed as a separate business within Coca-Cola's North America operating unit and will continue to be based in New York. Under a separate consulting and transition-services agreement, the executive leadership team, including co-founder and Chairman Mike Repole and President Brent Hastie, has agreed to continue to work to maintain the brand's momentum in the market.

BodyArmor will continue to be distributed by the U.S. Coca-Cola bottling system.

BodyArmor is currently the number 2 sports drink in the category in measured retail channels, growing at about 50% to drive more than $1.4 billion in retail sales, according to the press release.

"We're excited to bring BodyArmor into The Coca-Cola Company and work with Mike Repole and his leadership team on the next stage of growth," Alfredo Rivera, president of the North America operating unit of The Coca-Cola Co., said in the press release.

As part of the agreement, Coca-Cola and Repole will also collaborate on the company's still beverages portfolio, including marketing, packaging and innovation strategies across multiple brands.