Coca-Cola has bought a minority stake in BodyArmor, a sports drink brand backed by Kobe Bryant.
Marketed as a healthier alternative to Pepsi Co’s Gatorade, BodyArmor emphasises its use of natural flavours and sweeteners such as pure cane sugar and coconut water concentrate.
According to ESPN, Bryant’s US$6 million investment for 10 per cent of the company in 2014 is now worth around US$200 million. The former Los Angeles Lakers athlete is now the fourth top investor in BodyArmor, behind co-founder Mike Repole, Coca-Cola and Dr Pepper Snapple Group.
Jim Dinkins, president at Coca-Cola North America said the brand would be “a strong offering to our system alongside our already powerful hydration portfolio as we accelerate our position as a total beverage company”.
Proud of our team at @DrinkBODYARMOR & our new partnership with the @CocaColaCo who believes in our mission of becoming the #1 Global Sports Drink. Thanks @Gatorade, we’ll take it from here… #ObsessedWithBetter https://t.co/fLVnBxWfDE
— Kobe Bryant (@kobebryant) August 14, 2018