Coca-Cola did not disclose any financial details of the purchase, which is to be seen in the context of its fizzy colas losing steadily marketshare to popular alternatives to its PepciCo-owned rival.
On Tuesday, Coca-Cola Co disclosed, it is in the process of buying a minority stake in Body Armor in its effort to pose a stronger challenge to Gatorade, a top energy drink maker.
The company did not disclose the size of the investment as well as any other financial detrails. It however said, it is open to increasing its stake in Body Armor.
The development comes in the wake of Coke’s Powerade steadily ceding marketshare to its more popular PepsiCo-owned rival.
Coca-Cola has been rattled by falling demand for its fizz colas.
Bryant is BodyArmor’s third biggest shareholder and also has endorsement deals with baseball player Mike Trout and another NBA star, James Harden.