Dr Pepper Snapple increases investment in Bodyarmor
Bodyarmor is free from artificial colors and flavors, uses natural sweeteners, and contains coconut water, electrolytes and vitamins. It comes in eight flavors including fruit punch, tropical punch, blackout berry and strawberry banana.
Dr Pepper Snapple has increased its investment in BA Sports Nutrition, the makers of Bodyarmor. An additional $6m stake builds on Dr Pepper Snapple’s initial $20m investment that was made in August 2015.
This will see Dr Pepper Snapple’s ownership position increase from 11.7% to 15.5%.
Dr Pepper Snapple says it has expanded distribution of the brand this year through its packaged beverages direct store delivery footprint.
Bodyarmor was launched in 2012 and is led by chairman and co-founder Mike Repole. Kobe Bryant, Andrew Luck, Mike Trout, James Harden and Richard Sherman are among the athletes who are investors in the brand.
With the increased investment, Dr Pepper Snapple is now the second-largest equity holder in Bodyarmor, behind Repole.