American multinational beverage Coca-Cola company has revealed intentions to acquire a controlling stake in Bodyarmor, a functional drinks business.
Bodyarmor’s portfolio includes a range of enhanced water drinks, sports drinks made with coconut water, and lower-calorie.
According to sources, a Coca-Cola spokesperson said: “We can confirm that The Coca-Cola Company has filed a pre-acquisition notification with the Federal Trade Commission relating to its intent to acquire a controlling interest in Bodyarmor.”
In 2018, Coca-Cola bought a minority stake in Bodyarmor with the option to increase its ownership stake in the company in the future.
Commenting on this announcement, Bodyarmor co-founder and chairman Mike Repole said: “Although Coca-Cola buying a controlling interest in Bodyarmor is a distinct possibility, reports that Coca-Cola is purchasing a controlling interest in Bodyarmor are premature. While this is one scenario for Bodyarmor, there are other potential options for the future of the business.”