Sport

Bodyarmor Sale to Coca-Cola Will Give Kobe Bryant Property $400M – NBC10 Philadelphia

blank

Coca-Cola announced Monday it had bought full control of sports-drink startup Bodyarmor for $5.6 billion, CNBC experiences, netting the property of late basketball legend Kobe Bryant an estimated $400 million on the sale.

The NBA star, who died in a tragic helicopter crash in January 2020, invested in Bodyarmor in 2014 for a ten% stake within the firm and joined its board of administrators. On the time, Bryant was the corporate’s third-largest shareholder.

“I put my pores and skin within the recreation,” Bryant told Forbes in 2014, after his hefty funding.

In a tribute to Bryant, Coke announced its buy at precisely 8:24 a.m. to commemorate the 2 jersey numbers the Los Angeles Lakers star wore throughout his NBA tenure. 

Coke initially purchased a 15% stake in Bodyarmor in 2018 and have become its second-largest shareholder. Monday’s transfer to buy the remaining 85% marks Coke’s largest acquisition within the firm’s historical past.

BodyArmor was co-founded in 2011 by Mike Repole, who simply 4 years earlier had offered his earlier firm, Glacéau, for $4.1 billion — additionally to Coke. Glacéau is the maker of SmartWater and VitaminWater.

The deal has been within the works since at the least February, based mostly on a pre-acquisition submitting with the Federal Commerce Fee, CNBC experiences.

Bryant’s property, which Forbes reported to be value as much as $600 million on the time of his loss of life and is now managed by his widow Vanessa Bryant, will see a roughly $400 million payoff from the deal, the Wall Street Journal reports.

Bryant confirmed enterprise prowess after his 2016 retirement from the NBA, with dealings in quite a lot of sectors that included “a media manufacturing firm and a enterprise capital fund to spend money on tech, media and information firms,” NBC News reported in 2020.

https://www.nbcphiladelphia.com/news/sports activities/with-bodyarmors-sale-to-coca-cola-kobe-bryants-estate-will-see-estimated-400m/3027555/ | Bodyarmor Sale to Coca-Cola Will Give Kobe Bryant Property $400M – NBC10 Philadelphia

PaulLeBlanc

Daily Nation Today is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@dailynationtoday.com. The content will be deleted within 24 hours.

Related Articles

Back to top button