Coca-Cola picks up stake in Kobe Bryant sports drink
Reuters: Coca-Cola Co (KO.N) 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 (PEP.O) rival. Coke…