News

#The Wall Street Journal: Coca-Cola to take full control of BodyArmor in $5.6 billion deal

Table of Contents

“#The Wall Street Journal: Coca-Cola to take full control of BodyArmor in $5.6 billion deal”

Kobe Bryant’s estate to collect more than $400 million for early investment in sports drink brand

Coca-Cola Co. 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, amping up a rivalry with Gatorade.

Coke KO, which already owns 30% of BodyArmor, is buying the remaining 70% from the company’s founders and investors, as well as a group of professional athletes including the NBA’s James Harden and MLB’s Mike Trout who invested and helped market the drink.

The…

Jennifer Maloney

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.