The Coca-Cola Company has acquired an 85-per-cent stake in BodyArmor, a line of sports performance and hydration beverages, after taking a 15-per-cent share three years ago.
The deal, valued at US$5.6 billion, will see BodyArmor managed as a separate business within Coca-Cola’s North America operating unit. The brand will keep its base in New York, while the co-founder and chairman, Mike Repole, and president Brent Hastie will continue their roles at the company.
“BodyArmor has been a great addition to the system lineup over the last three years,” said Alfredo Rivera, president of the North America operating unit of The Coca-Cola Company. “The company has driven continuous innovation in hydration and health-and-wellness products.”
Under the partnership, Coca-Cola and Repole will also collaborate on BodyArmor’s still beverages portfolio, including marketing, packaging and innovation strategies across multiple brands. The company will continue to be distributed by the US Coca-Cola bottling system.
According to the company, BodyArmor is currently the number two sports drink in the category in measured retail channels, growing at about 50 per cent to drive more than US$1.4 billion in retail sales.
“Ten years ago, we set out with a vision to create a better-for-you sports drink with a goal of becoming the number one global sports drink,” Repole said. “Our talented leadership team under Brent Hastie, our 400 dedicated employees and incredible Coca-Cola bottling partners have helped us build this remarkable brand.”