TELETRADER News
11/1/2021, 3:39 PM
(Source: TeleTrader)
Coca-Cola buys remaining BODYARMOR stake for $5.6B
The Coca-Cola Company unveiled on Monday it has reached a deal to acquire the rest of the stake in the sports drink maker, BODYARMOR. Coca-Cola, which previously purchased 15% of BODYARMOR's shares, will pay $5.6 billion for the remaining 85% of the firm, the statement issued by the company read.
"BODYARMOR has been a great addition to the system lineup over the last three years, and the company has driven continuous innovation in hydration and health-and-wellness products," Alfredo Rivera, president of the North America operating unit of The Coca-Cola Company, noted.
Coca-Cola shares were 0.56% lower at 10:23 am ET, selling for $56.06.