Coke acquires remainder of sports drink BodyArmor for $5.6B

Coca-Cola has completed its acquisition of sports drink brand BodyArmor. Coke said Monday it paid $5.6 billion for the remaining 85% of the sports beverage company. Coke originally bought a 15% stake in the BodyArmor in 2018. BodyArmor was founded a decade ago by the entrepreneurs who also developed smartwater and Fuze. Basketball star Kobe Bryant was an early investor. Atlanta-based Coke said it will manage the BodyArmor brand as a separate business and it will continue to be based in New York.