Coca-Cola Co. is buying full control of BodyArmor for $5.6 billion in a deal that values the sports drink brand at about $8 billion, according to people familiar with the matter, amping up a rivalry with Gatorade.
Coke, which already owns 30% of BodyArmor, is buying the remaining 70% from the company’s founders and investors, as well as a group of professional athletes including the NBA’s James Harden and MLB’s Mike Trout who invested and helped market the drink.
