![]() With assistance from Gillian Tan, Kiel Porter and Brett Pulley. 29, trailing behind the 23% rise of the S&P 500 index. The stock was up 2.8% this year through Oct. With its 2018 investment, Atlanta-based Coca-Cola became the second-largest shareholder in BodyArmor behind Repole.Ĭoca-Cola shares were up 0.3% to $56.53 in premarket trading at 8:38 a.m. In March 2013, Kobe Bryant purchased a large stake in the company, joining the Board of Directors and becoming the third largest shareholder. 24 filing, Coca-Cola said it intended to exercise its option to acquire the remaining ownership interests in BodyArmor, and that the deal was subject to regulatory approval. It was founded in 2011 by Lance Collins, founder of Fuze Beverage and NOS Energy Drink, and Mike Repole, co-founder of Energy Brands, vitaminwater, and Smartwater. PepsiCo Chief Executive Officer Ramon Laguarta said on a conference call in April that his company now is focused on making Gatorade more competitive after first turning around sales growth for the flagship Pepsi brand. Even combined with BodyArmor, the Coca-Cola products would have about 23% of the sports-drink market, well behind Gatorade’s 68%, according to Euromonitor.Įven so, Gatorade has struggled with sales as competitors chip away at the leading brand. Case volume grew 6% in that division last quarter, in line with carbonated products but behind the 12% gain in nutrition, juice and dairy products.Ĭoca-Cola’s primary sports drink, Powerade, is a distant competitor to PepsiCo’s market-leading Gatorade. The deal aims to accelerate sales in Coca-Cola’s hydration, sports and coffee segment. Coca-Cola in 2018 bought its minority stake in BodyArmor and at the time called it “one of the fastest-growing beverage trademarks in America.” Created by co-founders Mike Repole and Lance Collins, BODYARMOR Sports Drink is available in 12 great-tasting flavors and is favored by many athletes, having assembled an impressive team of young, superstar athletes such. Like rival PepsiCo Inc., Coca-Cola has been benefiting from consumers’ rising thirst for beverages as they return to public venues such as restaurants and stadiums. The fast-growing BODYARMOR trademark includes BODYARMOR Sports Drink, BODYARMOR LYTE Sports Drink and BODYARMOR SportWater. The brand has enjoyed the backing and marketing power of professional athletes including baseball’s Mike Trout, basketball’s James Harden and golf’s Dustin Johnson. 28 that Coca-Cola was close to a deal to buy the remaining stake.īodyArmor’s sales have risen quickly after the drink was created in 2011. Repole and his leadership team will remain in place and work with Coca-Cola on other parts of its still-beverage portfolio, the company said Monday.īloomberg News reported Oct. It was founded in 2011 by Lance Collins, founder of Fuze Beverage and NOS Energy Drink, and Mike Repole, co-founder of Energy Brands, vitaminwater, and. It will continue to be based in New York.Coca-Cola, which already owns 15% of BodyArmor, is buying the remainder from investors including co-founder and Chairman Mike Repole. PepsiCo’s Gatorade, the market leader, controlled 68%, while Coke’s Powerade brand was second with 14%.Ītlanta-based Coke said it will manage the BodyArmor brand as a separate business. sports drink category in 2020, with 9.3%, according to Euromonitor. ![]() With Coke’s 2018 investment, BodyArmor gained access to the company’s sprawling distribution network and sales skyrocketed.īodyArmor had the third-highest market share in the U.S. Coke and BodyArmor would not confirm that amount. EDT Monday to honor Bryant, who wore the jersey numbers eight and 24 in his NBA career.īryant’s estate stands to gain $400 million from the BodyArmor sale, The Wall Street Journal reported Monday, citing anonymous sources. Coke announced the acquisition at 8:24 a.m. In a statement Monday, Repole credited Bryant _ who died in a 2020 helicopter crash _ with the brand’s growth. ![]() Suds after working up a sweat: Beer after a workout? Brewers take a cue from Gatorade and add electrolytes into lower alcohol brewsīasketball legend Kobe Bryant was an early investor in BodyArmor, becoming its third-largest shareholder and a member of its board in 2013. Seriously Coke?!: Fact check: Cocaine in Coke? Soda once contained drug but likely much less than post claims Coke also bought Fuze and Repole’s company _ Energy Brands _ in 2007. Coke bought the Fairlife milk brand in 2020 and Costa coffee in 2019.īodyArmor was founded a decade ago by Lance Collins, the founder of Fuze Beverage, and Mike Repole, who started the Smartwater and Vitaminwater brands. The deal is part of a multi-year effort at Coke to move beyond sugary soft drinks and into other categories like juices, enhanced waters and sports drinks. Coke originally bought a 15% stake in the BodyArmor in 2018.Ĭoke confirmed that BodyArmor is its largest-ever brand acquisition. is making a multibillion-dollar bet on the sports drink brand BodyArmor as part of a larger push to diversify its offerings.Ĭoke said Monday it paid $5.6 billion for the remaining 85% of BodyArmor.
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