BODYARMOR acquired by The Coca-Cola Company
The Coca-Cola Company acquired BODYARMOR, a US sports performance and hydration beverages brand.
Transaction summary
- Target
- BODYARMOR
- Acquirer
- The Coca-Cola Company
- Seller
- -
- Announced
- -
- Geography
- United States
- Tags
- ConsumerFood & BeverageSports Performance And Hydration Beverages
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 85%
- First added
- 2026-10-04
- Latest update
- 2026-10-04
Value and multiples
100% enterprise value
USD 6.6B
100% enterprise value | USD
Basis: Derived from source data
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
-
Period not stated
Basis: FundComb estimate
EV / EBITDA
-
EBITDA basis not stated
Basis: FundComb estimate
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 5.6B
Reported $5.6 billion purchase price for the remaining 85% ownership interest.
Basis
- USD 6.6bn enterprise value is treated as publicly disclosed or derived directly from public source data.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- Coca-Cola acquired the remaining85% interest in BODYARMOR after its earlier15% minority investment. The reported USD5.6bn purchase price is consideration for that85% stake; approximately USD6.588bn100% enterprise value is a proportional estimate under FCR-211. Retail sales and measured-channel growth are not company revenue. Closing month 2021-11; exact day not established. Full-year 2021 measured U.S. retail-channel ranking and retail-value growth; not company revenue or EBITDA.
Source summary
Coca-Cola Reports Fourth Quarter and Full-Year 2021 Results
ConfirmedFor full-year 2021, BODYARMOR was the #2 sports drink in the category in measured retail channels in the United States, with retail value growth of approximately 50%.
Open sourceThe Coca-Cola Company Form 10-Q for the quarterly period ended March 28, 2025
ConfirmedIn November 2021, the Company acquired the remaining 85% ownership interest in, and now owns 100% of, BodyArmor
Open source