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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CNBC is an American pay television business news channel, which primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.
As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.
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.
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.
The company produces Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton. In 1889, the formula and brand were sold for $2,300 (roughly $67,000 today) to Asa Griggs Candler, who incorporated The Coca-Cola Company in Atlanta in 1892.
The company has operated a franchised distribution system since 1889. The company largely produces syrup concentrate, which is then sold to various bottlers throughout the world who hold exclusive territories. The company owns its anchor bottler in North America, Coca-Cola Refreshments.
The company’s stock is listed on the NYSE and is part of DJIA and the S&P 500 and S&P 100 indexes. Revenue US$37.27 billion (2019).