Washington: coco cola Preparing to take full control of the sports drink group body armor In a $5.6 billion deal, wall street journal Reported on Sunday.
Coca-Cola already holds a 30 percent stake in the sports drink group.
The buyout, which will value BodyArmor about $8 billion, will buy the remaining 70 percent from soda giant BodyArmor’s founders and investors, as well as a group of professional athletes who have invested in the company.
BodyArmor was supported by its founding in 2011 by a basketball star. Kobe Bryant, who died in a helicopter crash in early 2020 and has invested $6 million in the company.
The Journal reported that Bryant’s estate should collect about $400 million from the deal, citing people close to the case.
Coca-Cola declined to comment when contacted by AFP.
BodyArmor is a competitor to industry giant Gatorade, which is owned by PepsiCo, Coca-Cola’s main business rival.
BodyArmor expects sales to reach $1.4 billion this year, compared to the first time Coca-Cola invested in the company in 2018.
Coca-Cola already holds a 30 percent stake in the sports drink group.
The buyout, which will value BodyArmor about $8 billion, will buy the remaining 70 percent from soda giant BodyArmor’s founders and investors, as well as a group of professional athletes who have invested in the company.
BodyArmor was supported by its founding in 2011 by a basketball star. Kobe Bryant, who died in a helicopter crash in early 2020 and has invested $6 million in the company.
The Journal reported that Bryant’s estate should collect about $400 million from the deal, citing people close to the case.
Coca-Cola declined to comment when contacted by AFP.
BodyArmor is a competitor to industry giant Gatorade, which is owned by PepsiCo, Coca-Cola’s main business rival.
BodyArmor expects sales to reach $1.4 billion this year, compared to the first time Coca-Cola invested in the company in 2018.
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