The Coca-Cola Company, BODYARMOR Announce Strategic Relationship
The initial investment is uniquely structured to create value for both companies and allow Coca-Cola to increase its ownership stake in the future under defined terms
The Coca-Cola Company and BODYARMOR announced that they have entered into a definitive agreement through which Coca-Cola will acquire a minority ownership stake in BODYARMOR. Through the agreement, BODYARMOR will have the opportunity to gain access to the expansive Coca-Cola bottling system, enabling the fast-growing brand to accelerate its growth to meet explosive consumer demand for its premium line of sports performance and hydration drinks.
The initial investment is uniquely structured to create value for both companies and allow Coca-Cola to increase its ownership stake in the future under defined terms. Financial terms of the agreement were not disclosed.
The BODYARMOR investment will be part of the Coca-Cola North America Venturing and Emerging Brands (VEB) investment portfolio. The brand will continue to operate independently with the same entrepreneurial spirit that has made it so successful under the leadership of co-founder and chairman Mike Repole and his BODYARMOR management team.
The fast-growing BODYARMOR trademark includes BODYARMOR Sports Drink, BODYARMOR LYTE Sports Drink and BODYARMOR SportWater. 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 as James Harden, Mike Trout, Dustin Johnson, Andrew Luck and Skylar Diggins-Smith, to name a few. In 2013, Kobe Bryant became the No. 3 shareholder in the company and has been an integral part of the success of the brand with his involvement in creative, marketing and partnerships. Bryant will continue to be heavily involved in the brand, especially as BODYARMOR expands to global markets in the future.
BODYARMOR contains no artificial colors or flavors and is made with potassium and other electrolytes, vitamins and coconut water. In 2017, BODYARMOR launched BODYARMOR LYTE Sports Drink, which has all the nutrients of BODYARMOR but is naturally sweetened and has only 20 calories and 3 grams of sugar per serving. In 2018, BODYARMOR SportWater – a premium water designed by athletes for athletes, with a performance pH 8+ and electrolytes for sport – became available.
Through the transaction, The Coca-Cola Company will become the second largest shareowner in BODYARMOR, behind co-founder and chairman Mike Repole.