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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Coca Cola Company | NYSE:KO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.28 | 0.45% | 63.16 | 63.36 | 62.79 | 62.92 | 8,371,693 | 01:00:00 |
By Colin Kellaher
Coca-Cola Co. on Monday confirmed that it agreed to pay $5.6 billion in cash to buy the remaining 85% of sports-drink maker BodyArmor.
The Atlanta beverage giant said it would fund the deal with cash on hand, adding that it would manage BodyArmor as a separate business within its North America operating unit.
Coca-Cola initially acquired a 15% stake in BodyArmor in 2018 with a path to full ownership, based on a pre-determined discount. The Wall Street Journal on Sunday reported that the company was buying full control of the brand.
Coca-Cola said its U.S. bottling system would continue to distribute BodyArmor, currently the No. 2 sports drink by retail sales behind PepsiCo Inc.'s Gatorade.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 01, 2021 09:02 ET (13:02 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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