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8/14/2018, 3:11 PM (Source: TeleTrader)
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Coca-Cola to buy stake in sports drink BODYARMOR

Coca-Cola Company announced on Tuesday it reached an agreement to buy a minority stake in sports drink maker BODYARMOR. The terms of the agreement allow Coca-Cola to raise its ownership stake in the future under defined terms.

BODYARMOR will remain a separate company and its current Chairman Mike Repole will continue to head the firm. The partnership will allow the sports drink manufacturer access to Coca-Cola's bottling system. Repole said Coca-Cola's "newly refranchised and energized bottling system" will help BODYARMOR become "world’s best premium sports performance and hydration brand" and provide opportunities for wider growth.

"BODYARMOR is one of the fastest growing beverage trademarks in America and competes in exciting categories. I have no doubt it will prove to be a strong offering to our system," Coca-Cola North America President Jim Dinkins stated.

Breaking the News / NP