Coca-Cola picks up a stake in Kobe Bryant's sports drink BodyArmor

Published Tue, Aug 14 2018 7:14 AM EDTUpdated Fri, Nov 16 2018 3:45 PM EST

Reuters

Kobe Bryant at the 2017 NACS show in Chicago.

CNBC

Coca-Cola is buying a minority stake in a sports drink brand backed by basketball star Kobe Bryant, it said on Tuesday, seeking to mount a stronger challenge to top energy drink Gatorade.

The investment in BodyArmor comes as Coke's Powerade steadily cedes market share to its more popular PepsiCo-owned rival. Coke has also been rattled by falling demand for its fizzy colas.

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