The big beverage companies are using their fat wallets to do battle with one another.

August saw a host of deals among rivals PepsiCo (PEP) and Coca-Cola (KO) . PepsiCo plunked down $3.2 billion to buy soda machine maker SodaStream. Meanwhile, Coca-Cola spent an undisclosed sum to buy a stake in surging Gatorade rival BodyArmor. On Friday, Coke said it will spend $5.1 billion to buy international coffee brand Costa.

Which beverage giant is doing the better deals? TheStreet explores.  

Coca-Cola is Real Money's 'Stock of the Day' on Friday following its Costa deal.