NEWS BRIEF: Coca-Cola snaps up sports drink maker BodyArmor in $5.6 billion deal
Coca-Cola adds to its portfolio
Photo credit: Courtesy Coca-Cola
In its largest acquisition so far, Atlanta-based beverage behemoth Coca-Cola announced Monday it has poured out $5.6 billion for full control of sports drink producer BodyArmor. Coke initially had a mere 15 percent stake in the fast-growing company. The late Kobe Bryant was an early investor as well. BodyArmor reportedly has annual revenues of $1.5 billion and claims its products are healthy alternatives that avoid artificial sweeteners, colors or flavors. The buyout is seen as a challenge to the market dominance of Gatorade, owned by Coke archrival PepsiCo. sanluisobispo.com