Coca-Cola is reportedly buying full control of BodyArmor for $ 5.6 billion in a deal that values the sports drink brand at around $ 8 billion, the Wall Street Journal reported Sunday, citing people familiar with the matter.
Coca-Cola, which already owns 30% of BodyArmor, is buying the remaining 70% from the company’s founders and investors, according to the WSJ report.
The deal is expected to be announced on Monday, he added. Coca-Cola bought its initial stake in the sports drink company in August 2018.
On Friday, shares of Coca-Cola Co advanced slightly after reports emerged suggesting the company is closer to closing a deal to buy BodyArmor.
Bodyarmor SuperDrink is an American sports drink and a partially owned subsidiary of Coca-Cola based in Queens, New York. It was founded in 2011 by Lance Collins, founder of Fuze Beverage and NOS Energy Drink, and Mike Repole, co-founder of Energy Brands, vitaminwater, and Smartwater.
Reference-www.eleconomista.com.mx