Coca-Cola Invests In Growing Sports Drink Brand BodyArmor

Coca-Cola and BodyArmor today announced that they have entered into a definitive agreement through which Coca-Cola will acquire a minority ownership stake in the sports drink brand. The initial investment allows Coca-Cola to increase its ownership stake in the future under defined terms. The BodyArmor brand will continue to operate independently under co-Founder & Chair Mike Repole and his management team. The beverage giant will become the second largest shareholder in BodyArmor, behind Repole (BodyArmor).

BodyArmor has "marketed its products as healthier alternatives and enlisted younger athletes," like Angels CF Mike Trout and Rockets G James Harden, to "invest and appear in its ads." It has "grown quickly in the last year but is still a distant third, behind Powerade, with less than 6% of the market, according to a Wells Fargo analysis of Nielsen data" (WSJ.com, 7/14).