That was enough for the company to get on the radar of Coca-Cola, which was desperate to find an answer to Gatorade. Bodyarmor positioned itself as an electrolyte-filled energy recovery drink for athletes.īodyarmor hit the jackpot when Basketball superstar, late Kobe Bryant, invested $6M in the company and joined its board of directors in 2014. Mike had established VitaminWater and SmartWater. Lance was the founder of Fuze Beverages and NOS Energy Drink. It zeroed in on sparkling flavours, hydration, nutrition, juice, and other emerging categories with solid growth opportunities.Īlong came Bodyarmor SuperDrink, which was founded in 2011 by Lance Collins and Mike Repole. Regional brands like Northern Neck Ginger Ale and Delaware Punch also faced the music.Ĭoca-Cola doubled down on focusing on bigger brands and supply chain to combat further potential disruptions. This was followed by the elimination of Coca-Cola Life, Coca-Cola Energy, and Diet Coke Feisty Cherry. The diet soda brand “Tab” was the first to be axed. Then came Zico Coconut Water which was sold back to its founder Mark Rampolla’s PowerPlant Ventures, for an undisclosed sum. There was also a complete review of the product portfolio to weed out non-performing products. The company also offered voluntary layoff packages to eligible employees, expected to cost $350M to $550M. Nine new divisions replaced the 17 existing business units to eliminate duplication of resources. In August 2020, the company undertook a massive restructuring exercise to cut costs. In other words, Coca-Cola had a tough time during the pandemic. Revenue from its core business fell 26% during that period. This is also Coca-Cola’s biggest acquisition to date. ( Tweet This) Fizzling Of The Fizzĭuring the first phase of Covid in the US, Coca-Cola reported a 33% decline in Q2 earnings last year. ![]() With the deal, Coca-Cola hopes to strengthen its sports drink portfolio against market leader Gatorade. (KO) announced the complete acquisition of sports drink maker Bodyarmor for $5.6B on Monday.
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