×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Financial Markets | Infrastructure | Money | Coca-Cola

Coca-Cola to Buy Remaining Stake in BodyArmor for $5.6 Billion

Coca-Cola
(AP)

Monday, 01 November 2021 08:45 AM

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, which values BodyArmor at about $6.59 billion, comes as a shift in strategy for Coca-Cola, which spent the last year offloading or discontinuing brands to focus on its core sodas during the pandemic.

Coca-Cola, which had first acquired a 15% stake in BodyArmor in 2018, said on Monday the sports drink maker will be managed as a separate business within its North America operating unit.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
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.
Coca-Cola
106
2021-45-01
Monday, 01 November 2021 08:45 AM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved