Coca-Cola Co. said on Monday it would buy the remaining stake in BodyArmor it did not already own for $5.6 billion, as the soda maker amps up its sports drink portfolio to take on market leader, PepsiCo Inc.’s Gatorade. The deal marks a shift in strategy for the world’s largest beverage maker after it spent the last year offloading or discontinuing brands, including its own energy-drink brand, to focus on Coca-Cola sodas. The deal, which values BodyArmor at about $6.59 billion, is Coca-Cola’s largest for a single brand; It comes about three years after the company bought British coffee chain Costa for $5.1 billion. BodyArmor, which markets itself as electrolyte-filled energy recovery drink for athletes, currently makes about $1.4 billion in annual retail sales and has a 50 percent growth rate, Coca-Cola said. “It gives Coke a strong stable of products in the rapidly growing sports hydration category. It’s a …
Coca-Cola to Fully Acquire Gatorade Rival BodyArmor for $5.6 Billion
November 1, 2021
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