Last updated on April 6th, 2016 at 02:58 pm
Dr Pepper Snapple (DPS) Group 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 and raises DPS’s ownership position from 11.7 percent to 15.5 percent.
Plano, Texas-based 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 has been a winning addition to our allied brand lineup, enabling us to build our presence in the growing sports drink category with a great tasting and differentiated product,” said Rodger Collins, DPS president of packaged beverages. “We’re very pleased to be increasing our investment in BodyArmor while working closely with its strong management team to win more fans in more places in the coming months and years.”
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 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 a 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.
“BodyArmor has revolutionized the sports drink category by creating a premium, better-for-you sports drink, and consumers are connecting with it,” said Repole. “We are excited by our strong growth and our continued partnership with DPS, who shares our goal to become the No. 1 sports drink.”