Coke's Kobe Drink Deal Is a Blow to Keurig Dr. Pepper
Kobe Bryant
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Coca-Cola Co.’s agreement to buy a stake in Kobe Bryant-endorsed sports-drink maker Bodyarmor is a blow to Keurig Dr. Pepper Inc. It’s not very good news for PepsiCo Inc.’s Gatorade, either, analysts said.
Both rivals are trading lower today after Coke signed the deal, which includes a path to full ownership. The move could help boost the Atlanta-based drink-maker’s presence in the sports beverage market. Powerade currently lags Gatorade.