Coca-Cola buys control of BodyArmor for $5.6 billion
By Michael E. Kanell, The Atlanta Journal-Constitution Troy Warren for CNT #Business Upstart sports drink brand a distant second to PepsiCo’s Gatorade Coca-Cola paid $5.6 billion to take full control of sports drink maker BodyArmor, the company’s largest-ever acquisition, the Atlanta-based beverage giant announced Monday. Coke had owned a 15% stake in BodyArmor since 2018. Coke now fully owns a company with fast-growing revenues as well as celebrity sports investors that include baseball player Mike Trout and basketball stars James Harden and the late Kobe Bryant. While Coke has a sports drink of its own in Powerade, the market is dominated by Gatorade, which…