Coca-Cola has acquired BodyArmor, a line of sports performance and hydration beverages, for $5.6 billion in cash. On Monday, the company announced it would be purchasing the remaining 85% of BodyArmor after taking a 15% stake in 2018, marking its largest brand acquisition to date. The acquisition values BodyArmor at approximately $8 billion.
The company also stated that BodyArmor will be managed as a separate business within Coca-Cola North America’s operating unit and will continue to be based in Queens, New York. It also will continue to be distributed by the U.S. Coca-Cola bottling system.
BodyArmor, which is currently the second-largest player in the sports drink category behind PepsiCo’s Gatorade, has generated more than $1.4 billion in retail sales, up about 50% this year. The company was founded in 2011.