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WASHINGTON: Coca-Cola is getting ready to take full management of the sports activities drink group BodyArmor in a deal value $5.6 billion, the Wall Avenue Journal reported Sunday.
Coca-Cola already holds a 30 p.c stake within the sports activities drink group.
The buyout, which might worth BodyArmor at about $8 billion, would see the soda large purchase the remaining 70 p.c from BodyArmor’s founders and buyers, in addition to a bunch {of professional} athletes who’ve invested within the firm.
BodyArmor was backed at its founding in 2011 by basketball star Kobe Bryant, who died in a helicopter crash in early 2020 and had invested $6 million within the firm.
The Journal reported that Bryant’s property ought to gather about $400 million from the deal, citing individuals near the case.
Coca-Cola declined to remark when contacted by AFP.
BodyArmor is a competitor to trade large Gatorade, which is owned by PepsiCo, Coca-Cola’s essential enterprise rival.
BodyArmor expects gross sales to achieve $1.4 billion this yr, in comparison with $250 billion in 2018 when Coca-Cola first invested within the firm.
Coca-Cola already holds a 30 p.c stake within the sports activities drink group.
The buyout, which might worth BodyArmor at about $8 billion, would see the soda large purchase the remaining 70 p.c from BodyArmor’s founders and buyers, in addition to a bunch {of professional} athletes who’ve invested within the firm.
BodyArmor was backed at its founding in 2011 by basketball star Kobe Bryant, who died in a helicopter crash in early 2020 and had invested $6 million within the firm.
The Journal reported that Bryant’s property ought to gather about $400 million from the deal, citing individuals near the case.
Coca-Cola declined to remark when contacted by AFP.
BodyArmor is a competitor to trade large Gatorade, which is owned by PepsiCo, Coca-Cola’s essential enterprise rival.
BodyArmor expects gross sales to achieve $1.4 billion this yr, in comparison with $250 billion in 2018 when Coca-Cola first invested within the firm.
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