Coca-Cola, (NYSE:KO) confirmed on Monday that it would plan to buy full control of the New York based sports drink BodyArmour for $5.6 billion for the remaining 85% stake of the company it did not previously own. The transaction puts BodyArmour at a valuation of $8 billion according to the Wall Street Journal. The sellers of the 15% of BodyArmour are from the founders, investors, and a handful of professional athletes who invested in and promoted the drink, which includes James Harden, Mike Trout, and the late Kobe Bryant. Coca-Cola originally purchased a stake in BodyArmour in 2018, which helped to expand BodyArmour’s market share through Coca-Cola’s expansive and efficient bottling system to accelerate the growth.
Quazar was not involved in this transaction.
Read more here: https://www.thestreet.com/investing/coke-to-buy-full-control-of-body-armor-for-5-6-billion-report
