Coca-Cola buys remaining 70% stake in Bodyarmor for $5.6 billion

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CNBC Television published this video item, entitled “Coca-Cola buys remaining 70% stake in Bodyarmor for $5.6 billion” – below is their description.

Mike Repole, Bodyarmor’s co-founder and chairman, sits down with CNBC’s Sara Eisen in an exclusive interview on ‘Squawk on the Street’ after Coca-Cola purchased the remaining 70% stake in the company for $5.6 billion.

CNBC Television YouTube Channel

Contrary to the 70% stake mentioned above, according to an official press release, the Coca-Cola Company (NYSE: KO) announced November 1 2021 that it was buying the remaining 85% of BodyArmor drinks business, in an all-cash purchase totalling USD$5.6 billion.

They had previously purchased 15% of the business in 2018.

BodyArmor will continue to be managed as a separate business, within Coca-Cola’s North American operating unit, and shall continue to be based in New York.

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    Bodyarmor SuperDrink is an American sports drink and fully-owned subsidiary of The Coca-Cola Company based in Queens, New York. It was founded in 2011 by Lance Collins, founder of Fuze Beverage and NOS Energy Drink, and Mike Repole, co-founder of Energy Brands, vitaminwater, and Smartwater.

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    The Coca-Cola Company (NYSE: KO) is an American multinational beverage corporation incorporated under Delaware’s General Corporation Law and headquartered in Atlanta, Georgia. The Coca-Cola Company has interests in the manufacturing, retailing, and marketing of nonalcoholic beverage concentrates and syrups.

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