Coca-Cola has completed 6 recorded acquisitions and 0 divestitures or spin-offs, spanning 1993 to 2021.
| Date | Type | Assets | Counterparty | Value |
|---|---|---|---|---|
| Nov 2021 | Acquisition | BodyArmor | — | $5.6bn |
| Jan 2019 | Acquisition | Costa Coffee | Whitbread | $4.9bn |
| Oct 2017 | Acquisition | Topo Chico | — | undisclosed |
| Feb 2013 | Acquisition | Innocent | — | undisclosed |
| Jun 2007 | Acquisition | Smartwater and Vitaminwater | — | $4.1bn |
| Jan 1993 | Acquisition | Thums Up, Limca and Maaza | — | undisclosed |
Coca-Cola paid $5.6 billion for the remaining stake in BodyArmor, its largest brand acquisition ever. It bought a sports drink built explicitly to attack Gatorade, giving Coca-Cola a credible competitor in a category PepsiCo had dominated for decades.
Coca-Cola bought Costa Coffee from Whitbread, its first move into a large hot drinks platform and its entry into physical coffee retail.
Coca-Cola acquired the Mexican sparkling mineral water brand Topo Chico, which had a devoted following in Texas long before it was distributed nationally. The price was not disclosed.
Coca-Cola raised its stake in Innocent Drinks to over ninety per cent, having first invested in 2009. The founders had built the brand on an explicitly independent identity, and the sale to a multinational was contentious among its customers.
Coca-Cola acquired Energy Brands, known as Glacéau, for $4.1 billion in cash, buying vitaminwater and smartwater. It was the company's largest acquisition to that point and a bet that growth would come from outside carbonated drinks.
Coca-Cola bought the Parle soft drink brands on returning to India, having left in 1977 rather than dilute its ownership under foreign investment rules. It acquired the market leader instead of competing with it, and Thums Up still outsells Coca-Cola's own cola in India.
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Ownership recorded here as having ended, whether or not a deal record with a filing behind it exists for the transfer.
| Brand | Owned from | Until | Owner today |
|---|---|---|---|
| Full Throttle | Jan 2004 | Jun 2015 | Monster Beverage |
| NOS | Jan 2005 | Jun 2015 | Monster Beverage |