Coca-Cola Co. said Aug. 14 that its North American arm has agreed to acquire a minority stake in sports drink company BodyArmor for an undisclosed amount.
Through the investment, the beverage giant would become BodyArmor's second-largest shareholder.
Under the deal, BodyArmor, which is backed by basketball athlete Kobe Bryant, will get access to Coca-Cola's bottling system, enabling the brand to further expand its business and meet consumer demand. Meanwhile, the beverage giant will be able to increase its ownership stake in BodyArmor in the future.
The transaction will be part of Coca-Cola's Venturing and Emerging Brands investment portfolio, the release added.
BodyArmor Chairman and co-founder Mike Repole will continue to operate the company independently, along with his existing management team.
Repole historically also has co-founded and incubated other brands that have since joined Coca-Cola's portfolio.