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Coca-Cola Co. Coke confirmed that BodyArmor is its largest-ever brand acquisition. The deal is part of a multi-year effort at Coke to move beyond sugary soft drinks and into other categories like juices, enhanced waters and sports drinks. Coke bought the Fairlife milk brand in and Costa coffee in Seriously Coke?! Soda once contained drug but likely much less than post claims. Suds after working up a sweat: Beer after a workout? Brewers take a cue from Gatorade and add electrolytes into lower alcohol brews. Basketball legend Kobe Bryant was an early investor in BodyArmor, becoming its third-largest shareholder and a member of its board in Coke announced the acquisition at a. Coke and BodyArmor would not confirm that amount. BodyArmor had the third-highest market share in the U. Atlanta-based Coke said it will manage the BodyArmor brand as a separate business. It will continue to be based in New York. Dee-Ann Durbin Associated Press. Facebook Twitter Email. Share your feedback to help improve our site!
Kobe Bryant estate reportedly gains $400 million in BodyArmor sale
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Nov 2, Updated Nov 2, According to CNBC, the acquisition will be the largest of its kind by the soft drink company, which will have full control of the brand. Gatorade currently has about 70 percent of the market share in sports drinks, which gives its parent company nearly full dominance over the market. They bought into the company back in in a deal that gave them 15 percent ownership in the company. At the time, too, the late Kobe Bryant was the third-largest shareholder in the company, as well — and his investment was made just two years after the company was launched. The founder told CNBC that he would like to remain as a consultant with the beverage company. She is also a NYC-based editor, writer, photographer, and publicist with a career spanning more than two decades in the entertainment industry. Latest Careers Events. VC and Investing. Bernadette Giacomazzo. Photo Credit: Kevin Mazur share. Discover more of what matters to you AfroTech Black Businesses black entrepreneurs black founders Black history black-owned business. Explore more.
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Kobe Bryant Estate Gains $400 Million After Coca-Cola Buys Full Control of BodyArmor
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Coke buys remaining stake of Kobe Bryant-backed sports drink BodyArmor for $5.6B
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