The Coca-Cola Company has purchased a minority stake in US-based sports performance drink brand Bodyarmor for an undisclosed sum, as the company aims to adapt its product portfolio to meet changing consumer preferences.
Bodyarmor produces a range of sports drinks for the US market which are made with coconut water and without artificial colours or flavours, and its portfolio of drinks includes Bodyarmor Sports Drink, Bodyarmor Sports Drink Lyte and Bodyarmor SportWater.
According to Coca-Cola, the agreement will give Bodyarmor direct access to the Coca-Cola bottling system, and it includes terms which will allow Coca-Cola to increase its ownership stake in the company in the future.
Bodyarmor will continue to operate as an independent unit at this time, and the company says that the access to Coca-Cola’s bottling system will allow the brand to accelerate its growth.
Coca-Cola North America president Jim Dinkins said: “In a fast-moving and dynamic industry, and during a time of unprecedented change at Coca-Cola, we’re challenging the status quo and bringing innovative, boundary-less thinking to our strategic relationships to ensure we are offering the products consumers want.
“Bodyarmor is one of the fastest growing beverage trademarks in America and competes in exciting categories.
“I have no doubt it will prove to be a strong offering to our system alongside our already powerful hydration portfolio as we accelerate our position as a total beverage company.”
Bodyarmor co-founder and chairman Mike Repole added: “Bodyarmor is revolutionising the beverage industry by providing the hydration that more and more of today’s athletes want and need.
“We are confident that this agreement gives us the best opportunity to significantly accelerate our mission to make Bodyarmor the world’s best premium sports performance and hydration brand.
“This is thanks to the strength and scale of Coca-Cola’s newly refranchised and energized bottling system in North America, as well as longer-term opportunities for international growth.”
© FoodBev Media Ltd 2018