On November 1st, local time in the United States, Coca-Cola announced that it had acquired all the shares of sports drink manufacturer BodyArmor. This has also become the company's largest brand acquisition since its establishment 129 years ago.
The acquired sports drink brand BodyArmor has a current market valuation of US$8 billion.
Coca-Cola acquired a 15% stake in BodyArmor for the first time in 2018. This time, it acquired the remaining 85% of the shares by paying US$5.6 billion in cash.
BodyArmor is a star company on the sports drink track, with annual sales of more than $1.4 billion. It currently ranks second in the US market share, behind Pepsi's sports drink brand Gatorade (Gatorade).
For Coca-Cola, the company has been expanding its beverage product line through acquisitions since 2017.
The market consulting company Mintel predicts that by 2025, the market size of sports and functional beverages will increase from $10.8 billion in 2020 to $13.6 billion.
(Producing Xu Miaoqiao)
Editor in charge: [Li Yuxin]