The $5.6 billion acquisition was the largest Coke has ever made.
For a long time, Coca-Cola’s primary entry into the sports drink sector was Powerade, a basic brand imitator of PepsiCo’s Gatorade, the undisputed leader of sports drinks. Unfortunately, despite selling well enough to stay on the shelves, Powerade was never able to get Coke within striking distance of Gatorade. The brand’s latest acquisition, however, may finally change that.
Coca-Cola is buying full control of BodyArmor for $5.6 billion in a deal that values the sports drink brand at about $8 billion, according to people familiar with the matter https://t.co/kk6WjxsfVt
— The Wall Street Journal (@WSJ) November 1, 2021
Coke announced today that they have purchased 100% control of Bodyarmor, another sports drink brand, and in fact the second-largest sports drink brand in the running, only behind Gatorade. This is thanks to Bodyarmor’s emphasis on healthier, natural ingredients. Coke previously purchase 15% of Bodyarmor back in 2018, but announced their intent to purchase the controlling stake back in February.
Coca-Cola buys remaining BodyArmor stake for $5.6 billion https://t.co/dXM5ZsmHsX
— FORTUNE (@FortuneMagazine) November 1, 2021
Bodyarmor’s co-founder, Mike Repole, will remain on staff to collaborate with Coke corporate on their product portfolio. Interestingly, Repole also had a hand in the creation of multiple other prominent sports drink brands over the years, including Vitaminwater, Smartwater and Energy Brands. All three of these were eventually acquired by Coke.
Even with Bodyarmor in their stable, Coke is still far away from overtaking Gatorade, which maintains a 70% market share in the sports drink sector.
President Biden Meets with Pope Francis
-
Fitch Ratings, a leading global credit rating agency, has released a new economic outlook report predicting that the U.S....
-
With Federal Reserve Chair Jerome Powell signaling that interest rates might be cut soon, investors are contemplating how this...
-
Consumer prices in the United States increased at the slowest rate in over three years last month, raising hopes...
-
In a significant shake-up at Starbucks, Laxman Narasimhan has stepped down from his role as CEO and board member...
-
JPMorgan Chase is set to release its second-quarter earnings report before the opening bell on Friday, July 14. Investors...
-
The Federal Reserve announced today that all 31 banks participating in its annual stress test have demonstrated their ability...
-
Wednesday is poised to be a pivotal day for economic news, as investors and economists brace for a crucial...
-
AMC Entertainment Holdings Inc. successfully raised approximately $250 million through a stock sale completed on Monday, coinciding with the...
-
Bank of America has reported impressive first-quarter earnings, surpassing analysts’ estimates for both profit and revenue, driven by better-than-expected...
-
Ken Griffin, the founder and CEO of Citadel, emphasized the importance of prudence in the Federal Reserve’s strategy regarding...
-
Michael Saylor, a prominent figure in the world of cryptocurrency, has seen significant gains this week as the value...
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...