Coca-Cola takes stake in Kobe Bryant-backed sports drink

Coca-Cola takes stake in Kobe Bryant-backed sports drink

Coca-Cola takes stake in Kobe Bryant-backed sports drink

Bryant is now the fourth largest investor in the brand that markets itself as a healthier competitor to Gatorade - he only sits behind the brand's co-founder Mike Repole, Keurig Dr Pepper and Coca-Cola.

Coke last month posted sales and profit that beat analysts' estimates, with a rebranding of Diet Coke and a boost for Coca-Cola Zero Sugar lifting results.

"Proud of our team at @DrinkBODYARMOR and our new partnership with the @CocaColaCo who believes in our mission of becoming the #1 Global Sports Drink". Financial terms of the deal, which could allow the soft-drink giant to eventually take control of Whitestone, New York-based Bodyarmor, were not disclosed. Monster Beverage and Red Bull follow close behind, with Coke trailing in fourth place with a 7 per cent share.

Founded in 2011 by beverage entrepreneur Lance Collins, BodyArmor has aggressively pitched itself as a better-for-you alternative to traditional sports drinks, such as Gatorade, which is owned by PepsiCo.

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. "Although the timing and mechanism by which distribution will transition over to Coca-Cola's bottling system is still uncertain".

British pound mostly lower as traders watch emerging markets
If UK inflation is lower than expected, investors may become concerned that the BoE's August interest rate hike was unjustified. Most investors still expect Britain to secure a trade deal with the European Union , but the risk of no deal is rising.

Neither Keurig Dr Pepper nor BodyArmor responded to Reuters' requests for comment.

The joint press release emphasized that BodyArmor contains no artificial colors or flavors and that a diet version of the drink is naturally sweetened.

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

So when Kobe decided to make a relatively modest (for him) investment of $6 million in a fledgling sports drink called BodyArmor back in 2014, it was a fairly low-risk endeavor.

James Harden, Mike Trout, Skylar Diggins-Smith and Dustin Johnson are listed on the company's website as endorsers, among many others.

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