(Reuters) – Coca-Cola (NYSE:) Co is nearing a deal to buy a controlling stake in sports drink maker BodyArmor, valuing it at about $8 billion, Bloomberg News reported https://www.bloomberg.com/news/articles/2021-10-28/coca-cola-is-said-to-near-deal-valuing-bodyarmor-at-8-billion?utm_source=google&utm_medium=bd&cmpId=google&sref=I5jUJbND on Thursday, citing people with knowledge of the matter.

According to the report, it is possible that the deal will be completed in the coming weeks.

Coca-Cola stated that it doesn’t comment on speculation or rumors, and BodyArmor didn’t immediately reply to our request for comment.

Coca-Cola became the second-largest shareholder of BodyArmor when it bought a minority share in 2018.

The late basketball player Kobe Bryant was one of BodyArmor’s earliest investors https://www.reuters.com/article/us-bodyarmor-investment-coca-cola-idUSKBN1KZ166, buying a stake in 2013, just two years after it was launched.

Coca-Cola has focused on the fast-moving drinks in recent months, and Coca-Cola is streamlining its product lines to make it more appealing. As consumers recover from the pandemic, they are buying up more traditional sodas as well as flavoured sparkling water.

Coca-Cola Energy drinks in North America were discontinued by the beverage giant in May. However, its majority share in North America was retained. Monster Beverage Corp (NASDAQ:), is one the most popular energy drink manufacturers in America.

In 2018, it bought coffee chain Costa https://www.reuters.com/article/us-whitbread-m-a-coca-cola-idUSKCN1LG0LG for $5.1 billion, marking both a push into the booming coffee market and its first foray into operating a retail chain.