Kobe Bryant estate reportedly gains $400 million in BodyArmor sale
CBSN
Coca-Cola's cash deal to buy sports drink BodyArmor has netted millions of dollars in profit for the beverage's early investors, including basketball legend Kobe Bryant.
Coke said Monday it paid $5.6 billion for the outstanding 85% stake in BodyArmor. Coke originally bought a 15% stake in the line of beverages in 2018. Coke announced its purchase Monday at exactly 8:24 a.m. to commemorate the two jersey numbers Bryant wore during his NBA tenure.
The BodyArmor move marks the largest single amount Coke has ever paid for a beverage brand. Coke bought Glaceau water for $4.1 billion in 2007 and paid $5.1 billion in 2018 for Costa Coffee.
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