• Loading stock data...
Friday, November 22, 2024

Coca-Cola Buys BodyArmor in Company’s Largest Acquisition Ever

  • Coca-Cola is buying BodyArmor in a deal worth $5.6 billion, as the company adds a growing brand to its sports drink category.
  • BodyArmor expects to bring in $1.4 billion in revenue this year.
bodyarmor_bottle
BodyArmor/Design: Alex Brooks

Coca-Cola has made its largest acquisition to date, paying $5.6 billion for full control of sports drink company BodyArmor.

The beverage giant will buy the 85% of BodyArmor it didn’t already own. On Friday, reports came out that a deal was in the works. Coke initially bought into BodyArmor in 2018.

  • The estate of Kobe Bryant will receive around $400 million. Bryant invested in BodyArmor in 2013, putting in $6 million. He sat on the company board until he passed away in 2020.
  • Coca-Cola announced the acquisition at 8:24 a.m. ET on Monday to honor Bryant, who wore Nos. 8 and 24 on his jerseys.
  • James Harden and Mike Trout are also investors and spokespeople for BodyArmor.

The transaction will bump Coca-Cola’s $4.9 billion acquisition of coffee company Costa, which closed in January 2019, to second place among the company’s biggest deals. Coca-Cola acquired Vitaminwater-maker Glaceau, co-founded by BodyArmor founder Mike Repole, for $4.1 billion in 2007.

BodyArmor expects to notch around $1.4 billion in 2021 sales — a far cry from the $250 million it garnered in 2018. With BodyArmor in the fold, Coca-Cola, which also owns Powerade, will have around 23% of the sports drink market.

PepsiCo-owned Gatorade dominates the category with a 68% share.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Vanderbilt Commodores quarterback Diego Pavia (2) throws the ball as Auburn Tigers take on Vanderbilt Commodores at Jordan-Hare Stadium in Auburn, Ala., on Saturday, Nov. 2, 2024. Vanderbilt Commodores defeated Auburn Tigers 17-7.

Vandy QB Pavia Sues NCAA for 2 More Years of Eligibility

Diego Pavia beat Alabama. Can he beat the NCAA’s eligibility rules?

Lululemon-Fanatics Collab With NHL Sees ‘Explosive’ First-Day Sales

The premium collection made up 80% of all NHL merch sales.
Feb 1, 2024; Toronto, Ontario, CANADA; Team King defender Savannah Harmon (15) scores against Team Kloss goaltender Nicole Hensley (29) during the PWHL 3-on-3 Showcase during NHL All-Star Thursday at Scotiabank Arena.

PWHL Will Add Two Teams in Expansion Move

Possible new sites include Detroit, Pittsburgh, and Quebec City.
Running back Kalel Mullings (20) celebrates a touchdown against USC with teammates during the second half at Michigan Stadium in Ann Arbor on Saturday, Sept. 21, 2024.

House v. NCAA Lawyers Amend Settlement to Address Concerns About Boosters and NIL

Judge Claudia Wilken had concerns about the definition of the word “booster.”
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Hapless Jets?

0:00

Featured Today

Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates after defeating NJ/NY Gotham FC in a 2024 NWSL Playoffs semifinal match at Audi Field. Mandatory Credit:

The Washington Spirit’s Business Makeover Carried Them to the Finals

The team’s return to the NWSL championship looks a lot different from 2021.
Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.
November 21, 2024

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up
November 18, 2024

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion
November 16, 2024

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.
September 18, 2024

Rogers Tightens Grip on Canadian Sports With $3.46B MLSE Stake

The Blue Jays owner makes a big move to corner most of the Toronto pro sports market.
Fans watch TV screens during a game viewing party for fans at the FanDuel Sportsbook at Meadowlands Racing & Entertainment in East Rutherford, New Jersey.
September 18, 2024

FanDuel Parent Buys Italian Gambling Company in Bid for Growth

Flutter is making big moves in Italy and Brazil.