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Coca-Cola to take minority ownership stake in hydration drink Bodyarmor
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Saturday, 18 August, 2018, 08 : 00 AM [IST]
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Atlanta
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Coca-Cola will take a minority ownership stake in Bodyarmor, a fast-growing line of premium sports performance and hydration beverages, according to a recent statement by the companies.
Through this strategic relationship, Bodyarmor will remain an independent company and gain access to the expansive Coca-Cola bottling and distribution system.
The initial investment, which will be a part of the Coca-Cola North America Venturing and Emerging Brands (VEB) investment portfolio, is structured to create value for both companies and allow Coca-Cola to increase its ownership stake over time.
Bodyarmor will continue to operate independently under the leadership of its co-founder and chairman Mike Repole and his management team.
Repole has had success co-founding and incubating other brands, including smartwater and vitaminwater. They joined the Coca-Cola portfolio in 2007 and have since become billion-dollar brands with global availability.
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