Dr Pepper Snapple Group Increases Investment In BODYARMOR
Dr Pepper Snapple Group, Inc. (DPS), has increased its equity investment in BA Sports Nutrition, makers of BODYARMOR, a line of premium sports drinks. The additional $6 million stake builds on the initial $20 million investment announced in August 2015 and raises DPS's ownership position from 11.7 percent to 15.5 percent.
DPS has carried BODYARMOR as an allied brand since 2013 and this year has expanded distribution of the brand throughout its packaged beverages direct store delivery footprint, which serves 34 states, helping BODYARMOR to achieve national distribution.
BODYARMOR has a growing roster of independent distributors in areas not served by DPS's network.
BODYARMOR is a premium sports drink with potassium-packed electrolytes, coconut water and vitamins. BODYARMOR contains natural sweeteners, natural flavors and no artificial colors and is now available in eight great-tasting flavors. The brand was launched in 2012 and is led by chairman and co-founder, Mike Repole.
In 2013, basketball superstar Kobe Bryant became a significant investor in the company, and earlier this year, BODYARMOR launched its eighth flavor, Blackout Berry, inspired by Bryant. BODYARMOR also has an impressive roster of superstar athletes who are investors in the brand, such as Andrew Luck, Mike Trout,James Harden, Richard Sherman, Dez Bryant, Buster Posey and Skylar Diggins.
With its increased stake in the BODYARMOR business, DPS is the second-largest equity holder in the brand, behind Repole.
The agreement was finalized in March and will not have a material impact on DPS's financial statements.
DPS has carried BODYARMOR as an allied brand since 2013 and this year has expanded distribution of the brand throughout its packaged beverages direct store delivery footprint, which serves 34 states, helping BODYARMOR to achieve national distribution.
BODYARMOR has a growing roster of independent distributors in areas not served by DPS's network.
BODYARMOR is a premium sports drink with potassium-packed electrolytes, coconut water and vitamins. BODYARMOR contains natural sweeteners, natural flavors and no artificial colors and is now available in eight great-tasting flavors. The brand was launched in 2012 and is led by chairman and co-founder, Mike Repole.
In 2013, basketball superstar Kobe Bryant became a significant investor in the company, and earlier this year, BODYARMOR launched its eighth flavor, Blackout Berry, inspired by Bryant. BODYARMOR also has an impressive roster of superstar athletes who are investors in the brand, such as Andrew Luck, Mike Trout,James Harden, Richard Sherman, Dez Bryant, Buster Posey and Skylar Diggins.
With its increased stake in the BODYARMOR business, DPS is the second-largest equity holder in the brand, behind Repole.
The agreement was finalized in March and will not have a material impact on DPS's financial statements.