The Coca-Cola Company has agreed to take full control of US sports drink brand BodyArmor, in a deal valued at $5.6 billion – according to the Wall Street Journal (WSJ).
The news follows last week’s announcement that the beverage giant was nearing completion of a deal to buy a controlling stake in BodyArmor. According to WSJ, which cites people that are familiar with the matter, the purchase values the drinks brand at approximately $8 billion.
Bodyarmor produces a range of sports drinks for the US market, which are made with coconut water and without artificial colours or flavours.
Coca-Cola, which already owns 30% of BodyArmor, first purchased a minority stake in the company back in 2018 and earlier this year announced its intentions to buy a controlling interest in the sports drink maker.
By News Desk
Source: foodbev.com
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.
