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
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