Reuters

Coca-Cola to fully acquire Gatorade rival BodyArmor for $5.6 billion

Coca-Cola Co said on Monday it would buy the remaining stake in BodyArmor it did not already own for $5.6 billion, as the soda maker amps up its sports drink portfolio to take on market leader, PepsiCo Inc’s Gatorade. The deal marks a shift in strategy for the world’s largest beverage maker after it spent the last year offloading or discontinuing brands, including its own energy-drink brand, to focus on Coca-Cola sodas. The deal, which values BodyArmor at about $6.59 billion, is Coca-Cola’s largest for a single brand; It comes about three years after the company bought British coffee chain Costa for $5.1 billion.