On Monday, November 1, the Coca-Cola company announced its commitment to acquire sports drinks maker Bodyarmor for USD 5.6 billion fully. Bodyarmor now is Coca-Cola’s largest-ever acquisition, a position held by Costa Coffee when it was acquired for USD 5.1 billion in 2018. Back then, Coca-Cola had owned only 15% of Bodyarmor.
This is Coca-Cola’s latest effort in a string to position itself as a key player as a healthy sports drink producer. Since the pandemic hit, Coca-Cola has been shelving products that were not selling well, such as Coca-Cola Plus, another energy drink.
Bodyarmor has positioned itself as the second-largest market shareholder in the sports drinks category, behind Pepsi’s Gatorade, which holds 70% of the market share.
This deal is expected to be highly beneficial for Coca-Cola, considering the brand of Bodyarmor and the potential to have it fully global distributed as it did with the Monster energy drink.
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