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The Coca-Cola Company and BODYARMOR Announce New Strategic Relationship

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Coca-Cola to Acquire Minority Stake in BODYARMOR with Path to
Ownership Under Defined Terms

BODYARMOR to Gain Access to U.S. Coca-Cola Bottling System with
Future Potential for Global Expansion

Agreement Creates Value for Both Companies in the Fast-Growing
Sports Performance and Premium Hydration Categories

The Coca-Cola Company and BODYARMOR today announced that they have
entered into a definitive agreement through which Coca-Cola will acquire
a minority ownership stake in BODYARMOR. Through the agreement,
BODYARMOR will have the opportunity to gain access to the expansive
Coca-Cola bottling system, enabling the fast-growing brand to accelerate
its growth to meet explosive consumer demand for its premium line of
sports performance and hydration drinks.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180814005279/en/

The fast-growing BODYARMOR trademark includes BODYARMOR Sports Drink, BODYARMOR LYTE Sports Drink an ...

The fast-growing BODYARMOR trademark includes BODYARMOR Sports Drink, BODYARMOR LYTE Sports Drink and BODYARMOR SportWater. (Photo: Business Wire)

The initial investment is uniquely structured to create value for both
companies and allow Coca-Cola to increase its ownership stake in the
future under defined terms. Financial terms of the agreement were not
disclosed.

The BODYARMOR investment will be part of the Coca-Cola North America
Venturing and Emerging Brands (VEB) investment portfolio. The brand will
continue to operate independently with the same entrepreneurial spirit
that has made it so successful under the leadership of Co-Founder and
Chairman Mike Repole and his BODYARMOR management team.

"In a fast-moving and dynamic industry, and during a time of
unprecedented change at Coca-Cola, we're challenging the status quo and
bringing innovative, boundary-less thinking to our strategic
relationships to ensure we are offering the products consumers want,"
said Coca-Cola North America President Jim Dinkins. "BODYARMOR is one of
the fastest growing beverage trademarks in America and competes in
exciting categories. I have no doubt it will prove to be a strong
offering to our system alongside our already powerful hydration
portfolio as we accelerate our position as a total beverage company."

Said Mike Repole: "BODYARMOR is revolutionizing the beverage industry by
providing the hydration that more and more of today's athletes want and
need. We are confident that this agreement gives us the best opportunity
to significantly accelerate our mission to make BODYARMOR the world's
best premium sports performance and hydration brand. This is thanks to
the strength and scale of Coca-Cola's newly refranchised and energized
bottling system in North America, as well as longer-term opportunities
for international growth."

The fast-growing BODYARMOR trademark includes BODYARMOR Sports Drink,
BODYARMOR LYTE Sports Drink and BODYARMOR SportWater. Created by
co-founders Mike Repole and Lance Collins, BODYARMOR Sports Drink is
available in 12 great-tasting flavors and is favored by many athletes,
having assembled an impressive team of young, superstar athletes such
as James Harden, Mike Trout, Dustin Johnson, Andrew Luck and Skylar
Diggins-Smith, to name a few. In 2013, Kobe Bryant became the No. 3
shareholder in the company and has been an integral part of the success
of the brand with his involvement in creative, marketing and
partnerships. Bryant will continue to be heavily involved in the brand,
especially as BODYARMOR expands to global markets in the future.

BODYARMOR contains no artificial colors or flavors and is made with
potassium and other electrolytes, vitamins and coconut water. In 2017,
BODYARMOR launched BODYARMOR LYTE Sports Drink, which has all the
nutrients of BODYARMOR but is naturally sweetened and has only 20
calories and 3 grams of sugar per serving. In 2018, BODYARMOR SportWater
– a premium water designed by athletes for athletes, with a performance
pH 8+ and electrolytes for sport – became available.

Repole has had success co-founding and incubating other brands including
smartwater and vitaminwater, which joined the Coca-Cola portfolio in
2007, and have since become billion-dollar brands with global
availability.

"I am extremely excited about this agreement because the Coca-Cola
system has an amazing track record of growing explosive brands that
consumers love and allowing entrepreneurial start-ups like BODYARMOR to
continue to be independent and focused on achieving the aggressive
growth goals that we set out to achieve when we launched this amazing
brand in 2011," Repole said.

Through the transaction, The Coca-Cola Company will become the second
largest shareowner in BODYARMOR, behind Co-founder and Chairman Mike
Repole.

About The Coca-Cola Company

The Coca-Cola Company (NYSE:KO) is a total beverage company, offering
over 500 brands in more than 200 countries and territories. In addition
to the company's Coca-Cola brands, our portfolio includes some of the
world's most valuable beverage brands, such as AdeS soy-based beverages,
Ayataka green tea, Dasani waters, Del Valle juices and nectars, Fanta,
Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent
smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply
juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We're
constantly transforming our portfolio, from reducing sugar in our drinks
to bringing innovative new products to market. We're also working to
reduce our environmental impact by replenishing water and promoting
recycling. With our bottling partners, we employ more than 700,000
people, helping bring economic opportunity to local communities
worldwide. Learn more at Coca-Cola Journey at www.coca-colacompany.com
and follow us on Twitter,
Instagram,
Facebook
and LinkedIn.

About BODYARMOR

BODYARMOR SuperDrink® is a premium sports drink that contains no
artificial colors or flavors and is packed with potassium and other
electrolytes, vitamins and coconut water. Created by co-founders Mike
Repole and Lance Collins, BODYARMOR Sports Drink is available in 12
great-tasting flavors and is the drink of choice for athletes, having
assembled an impressive team of young, superstar athletes such as James
Harden, Mike Trout, Dustin Johnson, Andrew Luck and Skylar
Diggins-Smith, to name a few. In 2013, Kobe Bryant became the #3
shareholder in the company. BODYARMOR also recently introduced BODYARMOR
LYTE Sports Drink, which has all the nutrients as BODYARMOR but is
naturally sweetened and has only 20 calories and 3 grams of sugar per
serving; and BODYARMOR SportWater, a premium sport water designed by
athletes, for athletes with a performance pH 8+ and electrolytes for
sport. For more information please visit www.drinkbodyarmor.com and
follow us at @drinkbodyarmor.

Forward-Looking Statements

This press release may contain statements, estimates or projections
that constitute "forward-looking statements" as defined under U.S.
federal securities laws. Generally, the words "believe," "expect,"
"intend," "estimate," "anticipate," "project," "will" and similar
expressions identify forward-looking statements, which generally are not
historical in nature. Forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from The Coca-Cola Company's historical experience and our
present expectations or projections. These risks include, but are not
limited to, obesity and other health-related concerns; water scarcity
and poor quality; evolving consumer preferences; increased competition;
product safety and quality concerns; perceived negative health
consequences of certain ingredients, such as non-nutritive sweeteners
and biotechnology-derived substances, and of other substances present in
our beverage products or packaging materials; an inability to be
successful in our innovation activities; increased demand for food
products and decreased agricultural productivity; an inability to
protect our information systems against service interruption,
misappropriation of data or breaches of security; changes in the retail
landscape or the loss of key retail or foodservice customers; an
inability to expand operations in emerging and developing markets;
fluctuations in foreign currency exchange rates; interest rate
increases; an inability to maintain good relationships with our bottling
partners; a deterioration in our bottling partners' financial condition;
increases in income tax rates, changes in income tax laws or unfavorable
resolution of tax matters; increased or new indirect taxes in the United
States and throughout the world; failure to realize the economic
benefits from or an inability to successfully manage the possible
negative consequences of our productivity initiatives; inability to
attract or retain a highly skilled and diverse workforce; increased
cost, disruption of supply or shortage of energy or fuels; increased
cost, disruption of supply or shortage of ingredients, other raw
materials, packaging materials, aluminum cans and other containers;
changes in laws and regulations relating to beverage containers and
packaging; significant additional labeling or warning requirements or
limitations on the marketing or sale of our products; unfavorable
general economic conditions in the United States; unfavorable economic
and political conditions in international markets; litigation or legal
proceedings; failure to adequately protect, or disputes relating to,
trademarks, formulae and other intellectual property rights; adverse
weather conditions; climate change; damage to our brand image or
corporate reputation from negative publicity, even if unwarranted,
related to product safety or quality, human and workplace rights,
obesity or other issues; changes in, or failure to comply with, the laws
and regulations applicable to our products or our business operations;
changes in accounting standards; an inability to achieve our overall
long-term growth objectives; deterioration of global credit market
conditions; default by or failure of one or more of our counterparty
financial institutions; an inability to renew collective bargaining
agreements on satisfactory terms, or we or our bottling partners
experience strikes, work stoppages or labor unrest; future impairment
charges; multi-employer pension plan withdrawal liabilities in the
future; an inability to successfully integrate and manage our
Company-owned or -controlled bottling operations or other acquired
businesses or brands; an inability to successfully manage our
refranchising activities; failure to realize a significant portion of
the anticipated benefits of our strategic relationship with Monster;
global or regional catastrophic events; and other risks discussed in our
Company's filings with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K for the year ended December 31,
2017 and our subsequently filed Quarterly Reports on Form 10-Q, which
filings are available from the SEC. You should not place undue reliance
on forward-looking statements, which speak only as of the date they are
made. The Coca-Cola Company undertakes no obligation to publicly update
or revise any forward-looking statements.

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