Coca-Cola to take control of BodyArmor in $5.6bn cash deal
By Michele Maatouk
Date: Monday 01 Nov 2021
(Sharecast News) - Coca-Cola said on Monday that it has bought the remaining 85% stake in BodyArmor that it does not already own for $5.6bn in cash.
The company initially acquired a 15% stake in BodyArmor - a sports performance beverages group - in 2018.
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 successful momentum in the market".
BodyArmor will continue to be distributed by the US Coca-Cola bottling system.
Alfredo Rivera, president of the NA operating unit of the Coca-Cola Company, said: "BodyArmor has been a great addition to the system line-up over the last three years, and the company has driven continuous innovation in hydration and health-and-wellness products.
"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."
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