Coke Pays $5.6B For Full Control Of BodyArmor
Coca-Cola Co. is buying full control of BodyArmor for $5.6 billion in a deal that values the sports drink brand at about $8 billion, the Wall Street Journal reported on Sunday.
Photo Insert: The deal gives Coca-Cola full control over the sports drink the former already partially owned.
BodyArmor SuperDrink is a US sports drink already a partially-owned subsidiary of Coca-Cola, Reuters reported.
It was founded in 2011 by Lance Collins, founder of Fuze Beverage and NOS Energy Drink, and Mike Repole, co-founder of Energy Brands, Vitaminwater, and Smartwater.
Coca-Cola, which already owns 30% of BodyArmor, is buying the remaining 70% from the company’s founders and investors, according to the WSJ report. The deal is expected to be announced as soon as Monday, it added.