Let the sports drink wars truly begin.
Coca-Cola (KO - Get Report) said Tuesday it will take a stake in surging sports drink brand BodyArmor. The purchase price was not disclosed. Coca-Cola said the deal is structured in a way that allows it to increase its ownership percentage in the future.
As TheStreet reported on Jul. 5, Coke was likely to swoop in and make a play for BodyArmor as the brand looked to get out from under the new Keurig Dr. Pepper Snapple Group umbrella.
The backstory below.
Street Rumors: Coca-Cola to Make Play for This Gatorade Rival?
- Date: July 5, 2018
When one door closes, another one often opens up.