Kobe's $6M investment in BodyArmor now worth $200M

Kobe Bryant won an Academy Award for the animated short based on his “Dear Basketball” retirement letter. More

Coca-Cola just announced it purchased a minority stake in BodyArmor.

Powerade, Coca-Cola's sorry attempt to replicate the real 'Rade, has just 17.5% market share. The move is seen as a bid by Coca-Cola to challenge Pepsi's stranglehold on the sports drink market.

This is the second time Repole has sold a company to Coca-Cola.

BodyArmor is reportedly expected to make $400 million in revenue in 2018, with an overall value that could reach upwards of $2 billion, according to the Wall Street Journal's Jennifer Maloney and Cara Lombardo. Several professional players have equity stakes in BodyArmor has part of their respective endorsement deals.

In March 2014, Los Angeles Lakers icon Kobe Bryant made a $6-million investment in sports drink BodyArmor for 10 percent of the company. It was founded by Mike Repole, who was also behind Glaceau's vitaminwater and smartwater.

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"BodyArmor is revolutionizing the beverage industry by providing the hydration that more and more of today's athletes want and need", Repole said in a press release. "Although the timing and mechanism by which distribution will transition over to Coca-Cola's bottling system is still uncertain".

Wells Fargo Securities analyst Bonnie Herzog noted that integrating BodyArmor into Coke's distribution network should help the brand grow domestically and in global markets.

"We would not be surprised if Coca-Cola eventually acquires the remainder of BodyArmor", Wells Fargo's Herzog said.

Herzog also wrote that BodyArmor has notified KDP of its intention to terminate their existing contract, but no further details on timing or procedure for the transition to Coke have been given. The deal puts BodyArmor in Coke's powerful distribution network, on their delivery trucks throughout most of the United States.



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