Coca-Cola to acquire minority interest in BODYARMOR
The Coca-Cola Company and BODYARMOR announced that they have entered into a definitive agreement through which Coca-Cola will acquire a minority ownership stake in BODYARMOR. Through the agreement, BODYARMOR will have the opportunity to gain access to the expansive Coca-Cola bottling system, enabling the fast-growing brand to accelerate its growth to meet explosive consumer demand for its premium line of sports performance and hydration drinks. The initial investment is uniquely structured to create value for both companies and allow Coca-Cola to increase its ownership stake in the future under defined terms. Financial terms of the agreement were not disclosed. The BODYARMOR investment will be part of the Coca-Cola North America Venturing and Emerging Brands investment portfolio. The brand will continue to operate independently with the same entrepreneurial spirit that has made it so successful under the leadership of Co-Founder and Chairman Mike Repole and his BODYARMOR management team. Through the transaction, The Coca-Cola Company will become the second largest shareowner in BODYARMOR, behind Co-founder and Chairman Mike Repole.