Coca-Cola is to acquire a minority ownership stake in premium sports performance and hydration beverages business BODYARMOR.
Through this deal, BODYARMOR will remain an independent company but have access to Coke’s bottling and distribution frameworks. Co-founder and chairman Mike Repole will remain in charge of the US business.
The initial investment, which will be part of the Coca-Cola North America Venturing & Emerging Brands (VEB) investment portfolio, will allow Coca-Cola to increase its ownership stake over time.
Coca-Cola North America president Jim Dinkins, said: “Consistent with our strategy of incubating bolt-on M&A deals, we believe taking an initial minority stake today, with a clear path to ownership, will allow BODYARMOR to continue to grow the business in a sustainable manner while maintaining the brand’s leadership and edge that have made it so successful.”