Coca-Cola Acquires Full Ownership of BodyArmor

Beverage company paying $5.6 billion for sports drink
Photograph: Shutterstock

ATLANTA — The Coca-Cola Co. has acquired full ownership of sports performance drink BodyArmor.

The Atlanta-based beverage company initially acquired a 15% stake in BodyArmor in 2018 with a path to full ownership based on a pre-determined discount. Coca-Cola is paying $5.6 billion in cash for the remaining 85% of the company.

BodyArmor will be managed as a separate business within Coca-Cola’s North America operating unit and will continue to be based in New York. BodyArmor’s executive leadership team, including Co-Founder and Chairman Mike Repole and President Brent Hastie, will continue to work with the brand to maintain its successful momentum in the market, Coca-Cola said.

“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,” said Alfredo Rivera, president of the North America operating unit of The Coca-Cola Co. “We’re excited to bring BodyArmor into The Coca-Cola Co. and work with Mike Repole and his leadership team on the next stage of growth.”

The sports drink will still be distributed by the U.S. Coca-Cola bottling system.

“Ten years ago, we set out with a vision to create a better-for-you sports drink with a goal of becoming the No. 1 global sports drink,” Repole said. “Our talented leadership team under Brent Hastie, our 400 dedicated employees and incredible Coca-Cola bottling partners have helped us build this remarkable brand.”

Rapole will also collaborate on Coca-Cola’s still beverages portfolio, including marketing, packaging and innovation strategies across multiple brands.

BodyArmor grew 25% in dollar sales and 20% in unit sales compared to a year ago in convenience stores for the 52 weeks ending on Oct. 3, 2021, according to Chicago-based market research firm IRI.

BodyArmor is a premium sports drink packed with electrolytes, coconut water and antioxidants. It was created in 2011 by Repole and Lance Collins. The brand also makes BodyArmor Lyte, which has no sugar added and 20 calories per bottle; BodyArmor SportWater, a water with a pH of 9 and electrolytes; and BodyArmor Edge, which combines the sports drinks with a boost of natural caffeine.

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