Stock Groups

Coca-Cola Edges Higher After Report It’s Buying All of BodyArmor -Breaking

by Mike Robinson

[ad_1]

© Reuters.

By Dhirendra Tripathi

Investing.com – Coca-Cola stock (NYSE:) traded up 0.1% in Monday’s premarket while a report in The Wall Street Journal said the company is taking full control of sport drink-maker BodyArmor.

According to the WSJ report, Coke is likely to pay $5.6 billion for the 70% stake it doesn’t own in the company. The sellers include the company’s founders and investors including some well-known names like NBA’s James Harden and MLB’s Mike Trout who helped popularize the drink.

The acquisition is Coke’s attempt to widen its portfolio of non-aerated and low-calorie drinks as consumers look for healthier alternatives. Coke is also trying to break the grip of their rival. Pepsico (NASDAQ) Market for Sports Drinks. The WSJ reported that Gatorade by Pepsico accounts for almost two-thirds the U.S. Market, while Powerade’s sports drink has a smaller market share than Coke.

BodyArmor’s products include sports drinks, alkaline water and caffeinated sports drinks. According to reports, it expects to make retail sales of $1.4 billion this year. This was based on information gathered from people who are familiar with the subject. In 2018, Coke invested $250 million to start the company.

PepsiCo stocks also increased 0.2%

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]