Home Business Kobe Bryant’s family won $ 400 million from the sale of Body Armor

Kobe Bryant’s family won $ 400 million from the sale of Body Armor

by Erica Farmer
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Sale Of Body Armor

Sale Of Body Armor

Over the last decade, the global market for so-called energy drinks has expanded exponentially. Young adults are the primary focus of the industry’s marketing initiatives, and collegiate athletes are frequent customers of the items. Campaigns advocate using energy drinks to improve performance and recommend mixing with cocktails.

According to studies, collegiate players binge drink frequently to enhance performance. The contents of energy drinks are covered in this article and the hazards of combining such substances with alcohol. Furthermore, current studies on energy drinks and sports performance are discussed. The repercussions for collegiate athletic departments are examined in detail.

Athlete’s Energy Drinks

Athletes constantly strive for improved performance and use several tactics to achieve that aim. Incorporating energy drinks into a workout routine is one such method. Many marketing promotions declare unequivocally that an energy drink increases functionality, improving athletic performance.

Vanessa Bryant, her children, and other victims’ families filed a settlement agreement notice with a federal judge in Los Angeles on Tuesday.

If the court authorizes the settlement, it will end the negligence and wrongful death case brought against the pilot’s estate and the owner and operator of the helicopter that crashed into a hillside on January 26, 2020.



Coca-Cola said Monday that it had acquired full ownership of sports drink producer Bodyarmor for $5.6 billion, its biggest brand purchase to date.

In 2018, the beverage giant purchased a 15% interest in Bodyarmor, becoming the company’s second-largest stakeholder. Basketball great Kobe Bryant was its third-largest stakeholder at the time, having invested in Bodyarmor in 2013, only two years after its inception. According to The Wall Street Journal, the late NBA star’s estate will earn around $400 million from the sale.

 

The acquisition of the remaining 85 percent of Bodyarmor was not anticipated. In a pre-acquisition petition with the Federal Trade Commission in February, Coke stated its intention to acquire a majority interest in Bodyarmor later this year.

Owning Bodyarmor helps Coke gain market share in the sports drink category, albeit PepsiCo’s Gatorade is by far the industry leader, accounting for nearly 70% of the market. Bodyarmor has eclipsed Coke’s Powerade to become the category’s second-largest competitor by marketing itself as a healthier sports drink. According to Coke, the sports drink brand’s retail sales this year are likely to exceed $1.4 billion, representing a 50 percent increase over last year.

Bodyarmor co-founder Mike Repole will work on the company’s still beverages line as part of the agreement. Repole also established Vitaminwater, Smartwater, and Energy Brands, which Coca-Cola now owns. BodyArmor President Brent Hastie and Repole will also assist BodyArmor in its drive to overtake Gatorade.



The late superstar Kobe Bryant’s estate has increased even more now that Coca-Cola has purchased the energy drink firm BodyArmor.

On Monday, Kobe Bryant’s family added $400 million to the basketball player’s already sizable fortune. This windfall is the outcome of the athlete’s investment in BodyArmor, an energy drink firm, a few years ago.

According to The Wall Street Journal, the late NBA player bought over $6 million for a 10% stake in BodyArmor in 2014. Bryant continued to participate in similar activities until he died in an aircraft crash in January 2020.

  • You might be interested in 10 Kobe Bryant quotes to motivate you to be your best.
  • The power and hydration drinks company is worth $ eight billion.
  • Now that Coca-Cola has purchased 85 percent of the company for 5.6 billion dollars, the number of Kobe’s shares corresponding to the Bryant family’s accounts might be moved directly to the Bryant family’s funds.
  • BodyArmor would not have reached its results without Kobe Bryant’s vision and faith. “I couldn’t be more delighted to be a part of the Coca-Cola family and look forward to the future,” said Mike Repole, creator of BodyArmor and former basketball player’s partner, in a statement Monday.

Kobe Bryant’s Tribute

On Monday, November 1, the acquisition was officially announced at 8:24 a.m., commemorating the great basketball player’s jersey numbers.

Vanessa Bryant, the basketball player’s widow, announced the news on her Instagram account, dedicating an emotional letter to the father of her four kids, one of them, Giana, perished beside the NBA legend.

Kobe Bryant’s contracts with the Lakers are thought to have totaled roughly $323 million. With this purchase, he has already made more money for his investments off the court than he did during his basketball career.

The BodyArmor purchase is also a watershed moment for Coca-Cola since it is the most money the firm has ever paid for a beverage brand. The report became held through the acquisition of the Costa coffee logo for $ 5.1 billion in 2018, and before that, it spent $ four.1 billion for Glaceau water in 2007.

According to The Wall Street Journal, the Kobe Bryant estate will get $400 million for its investment in BodyArmor as part of a transaction in which Coca-Cola buys complete control of the sports drink firm. Coke stated that it had paid $5.6 billion in cash for the firm.

“BODYARMOR would not have been able to accomplish the results we did if it hadn’t been for Kobe Bryant’s vision and belief,” Mike Repole, creator of BodyArmor, said in a statement. “I’m ecstatic to be joining the Coca-Cola family and setting our sights on the future.”



Coke purchased a 15% investment in the firm in 2018 and received an additional 15% equity stake when it took over BodyArmor distribution. The closing 70% could be bought from founders and investors, including professional sportsmen like Bryant, Mike Trout, and James Harden.

 

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