The Coca-Cola Co. is acquiring full ownership of the sports nutrition company BodyArmor for $5.6 billion. Coca-Cola previously owned a 30 per cent stake in the business.
“BodyArmor has been a great addition to the system lineup over the last three years, and the company has driven continuous innovation in hydration and health-and-wellness products,” says Alfredo Rivera, president of the North America operating unit of The Coca-Cola Company. “We’re excited to bring BodyArmor into The Coca-Cola Co. and work with Mike Repole and his leadership team on the next stage of growth.”
BodyArmor will be managed as a separate business unit within Coca-Cola North America and will remain headquartered in New York. BodyArmor’s co-founder and chairman Mike Repole and president Brent Hastie will remain involved with the company under a transition-services agreement.
As part of the agreement, Coca-Cola and Repole also will collaborate on the company’s still beverages portfolio, including marketing, packaging and innovation strategies across multiple brands, according to The Coca-Cola Co.