Coca-Cola acquires sports drink BodyArmor

The American drinks company is putting 5.6 billion dollars (4.8 billion euros) on the table for sports drink brand BodyArmor, the largest acquisition ever for Coca-Cola.

Strengthening the sports drinks division

Three years ago, the beverage giant already took a 15 per cent stake in BodyArmor. Through the new deal, Coca-Cola now gains complete control over the sports drink brand, reports CNBC.

Thanks to the takeover, Coca-Cola significantly strengthened its sports drink category, although Gatorade, owned by long-time rival PepsiCo, still dominates the market. Coca-Cola already had a sports drink in its own portfolio through Powerade, but this brand could never compete with Gatorade. In fact, Powerade also lost more and more ground to BodyArmor.

NBA

Coca-Cola expects BodyArmor sales to increase by about 50 per cent this year. The brand was founded ten years ago and became widely known thanks to the late NBA-star Kobe Bryant, who died in an accident last year. In 2013, the basketball legend took a 15 per cent stake in BodyArmor, making him the third-largest shareholder in the sports drink brand. His heirs would now reap around 400 million dollars (345 million euros).

The acquisition of BodyArmor is the largest in Coca-Cola’s history. The former record dates back to 2018 when the beverage giant put 5.1 billion dollars (4.4 billion euros) on the table for Costa Coffee.