Coca-Cola announced Monday it has bought full control of sports drink maker Bodyarmor for $5.6 billion, making it the company's largest acquisition to date.
Owning Bodyarmor helps Coke gain market share in the sports drink category, although PepsiCo's Gatorade is far and away the market leader with roughly 70% market share.In this article
The beverage giant bought a 15% stake in Bodyarmor in 2018, becoming its second-largest shareholder. At the time, basketball legend Kobe Bryant was its third-largest shareholder after investing in Bodyarmor in 2013, just two years after its founding. Bryant's estate will receive more than $400 million from the sale,The deal for the remaining 85% of Bodyarmor isn't entirely unexpected.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | Coke to Pay $5.6 Billion for Full Control of BodyArmorCoca-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
Read more »
From The Confessional: SAHM Life Is Freaking HardFrom The Confessional: SAHM Life Is Freaking Hard “I was not prepared for the loneliness.”
Read more »
Buying or Selling a Home? Avoid These Costly Mistakes.It's no secret the housing market is crazy right now, but things like skipping an inspection or mishandling an estate will cost you dearly. Make sure to avoid these mistakes when buying or selling.
Read more »
Tigrayan rebels claim Ethiopian city 'under full control' of TPLFIn a major blow to the federal government in its nearly year-long war, Tigray People's Liberation Front announced it has the full control over the strategic town of Dessie in northern Ethiopia.
Read more »
Patti Smith Welcomes 'Peter Pan Prodigy' Todd Rundgren Into Rock Hall With Warm TributeRead Patti Smith's warm rockhall induction speech for her old friend Todd Rundgren, where she praised the 'Peter Pan prodigy' for his 'ever curious, ever youthful, ever defiant' approach
Read more »
Saudi Aramco sees third-quarter income rise to $30.4 billionDUBAI, United Arab Emirates (AP) — The world’s largest oil company, Saudi Aramco, reported $30.4 billion in third-quarter net income on Sunday, bolstered by a surge in oil prices and recovery in demand as the coronavirus pandemic eases.
Read more »