Coca-Cola paid $5.6bn for the 85% of the sports drink brand it did not already own, having invested an undisclosed amount three years ago.
Beverage producer Coca-Cola Company acquired portfolio company Bodyarmor, a US-headquartered sports drink brand, yesterday at a valuation of approximately $6.59bn.
Founded in 2011, Bodyarmor markets a range of coconut water-based sports drinks and has sponsorship agreements in place with actress Jennifer Lopez and professional athletes including Naomi Osaka, Andrew Luck, Rob Gronkowski and Klay Thompson.
The late Koby Bryant, a basketball Hall of Famer, invested an undisclosed amount in the company in 2013, and Coca-Cola provided an undisclosed sum five…
