Coca-Cola to Buy Rest of BodyArmor for $5.6 Billion
02 November 2021 - 12:17AM
Dow Jones News
By Colin Kellaher
Coca-Cola Co. on Monday confirmed that it agreed to pay $5.6
billion in cash to buy the remaining 85% of sports-drink maker
BodyArmor.
The Atlanta beverage giant said it would fund the deal with cash
on hand, adding that it would manage BodyArmor as a separate
business within its North America operating unit.
Coca-Cola initially acquired a 15% stake in BodyArmor in 2018
with a path to full ownership, based on a pre-determined discount.
The Wall Street Journal on Sunday reported that the company was
buying full control of the brand.
Coca-Cola said its U.S. bottling system would continue to
distribute BodyArmor, currently the No. 2 sports drink by retail
sales behind PepsiCo Inc.'s Gatorade.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 01, 2021 09:02 ET (13:02 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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