This June 25, 2012 file photo shows the Coca-Cola logo on the side of a delivery truck in Springfield, Ill. Coca-Cola Co.
is making a multibillion-dollar bet on the sports drink brand BodyArmor as part of a larger push to diversify its offerings.
Coke confirmed that BodyArmor is its largest-ever brand acquisition. The deal is part of a multiyear 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 2020 and Costa coffee in 2019. Basketball star Kobe Bryant was an early investor in BodyArmor, becoming its third-largest shareholder and a member of its board in 2013.
Bryant's estate stands to gain $400 million from the BodyArmor sale, The Wall Street Journal reported Monday, citing anonymous sources. Coke and BodyArmor would not confirm that amount.
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