Coca-Cola has bought Bodyarmor, the No. 2 U.S. sports drink brand, for $5.6 billion, in its largest-ever acquisition.
The deal was not exactly a surprise, since Coca-Cola took at a 15% share in Bodyarmor in 2018 and had notified federal regulators earlier this year of its intent to buy a controlling interest.
The move will solidify Coca-Cola’s position in the energy-drink field, which is dominated by PepsiCo’s Gatorade. Coca-Cola already has Powerade, but killed off a new product, Coca-Cola Plus Energy Drink, this year after it failed to take off.
Bodyarmor’s co-founder, Mike Repole, will stay on as a consultant. Repole also founded Vitaminwater, Smartwater and Energy Brands, all now owned by Coca-Cola.
