Coca-Cola Pays $5.6B For Sports Drink Biz Bodyarmor

By Benjamin Horney (November 1, 2021, 8:47 AM EDT) -- The Coca-Cola Co. will pay roughly $5.6 billion to acquire the remaining stake in sports drink maker Bodyarmor that it does not already own, the companies said Monday.

Under the terms of the transaction, Atlanta-based Coca-Cola will acquire an 85% stake in Bodyarmor, and Bodyarmor will continue to operate independently, according to a statement. Bodyarmor is the No. 2 sports drink by retail sales, according to the statement, behind only Gatorade, which is owned by Coca-Cola rival PepsiCo.

Coca-Cola has been a Bodyarmor investor since 2018, when it acquired a minority stake in the business for an undisclosed price. That deal...

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