The partnership will refurbish sports facilities and fund youth clinics around the U.S., which aligns with the foundation’s goals to fund sports programming for underserved athletes. This is my way of making sure that Kobe’s legacy and what he stood for will continue for a long, long time.” We are going to make it a billion-dollar foundation. “I want this thing funded for the next 100 years. “This $24 million is just the beginning,” Repole said in a phone interview. The announcement comes two days after what would have been Gianna’s 16th birthday. It is the largest donation that the MMSF has received since its inception. while traveling to a youth basketball tournament. In a nod to Bryant’s uniform number, BodyArmor and Repole have donated a combined $24 million to the Mamba & Mambacita Sports Foundation (MMSF), which was established in 2020 after the tragic deaths of Bryant, his daughter Gianna and seven others in a helicopter crash in Calabasas, Calif. The company and its founder, Mike Repole, want to ensure the legacy of the basketball great remains top of mind. In 15 years, I want BodyArmor to be the number one sports drink globally.Kobe Bryant played a critical role in helping BodyArmor become the No. “Gatorade has been the number one sports drink for 50 years, but in 10 years, I want BodyArmor to be the number one sports drink in the United States. “Building brands and building teams are a lot of fun,” Repole told Forbes in 2014.
What’s next for the newest beverage billionaire? Repole-an avid equestrian, who owns more than 200 thoroughbred race horses-will stay on as BodyArmor’s chairman, Coca-Cola said in a press release, and will collaborate on the company’s portfolio of still beverages. sports drink market, Euromonitor data shows. (In 2006, PepsiCo paid $13.4 billion in stock and assumed debt to buy Quaker Oats and its Gatorade subsidiary.) Between BodyArmor and Powerade, which Coca-Cola released in 1988, Coca-Cola will control roughly 26% of the U.S. sports drink market, of which rival PepsiCo’s Gatorade commanded a 65% share in 2020, according to Euromonitor. It will bolster the beverage behemoth’s quest for a bigger share of the U.S. This week’s deal marks Coca-Cola’s largest acquisition so far of another brand. The crunchy snack’s creator, Robert Ehrlich, sued Repole’s Driven Capital Management in 2015, alleging “frat boy” actions by Repole and associates in order to “attack self-confidence and entrepreneurial spirit.” In response, Repole told Forbes at the time: “These claims are so outlandish and ridiculous that I laughed out loud the first time I read them and they aren’t even worth addressing.” A spokesperson for Repole said the lawsuit is no longer ongoing a lawyer for Ehrlich did not immediately reply to a request for comment. Repole ran into trouble at Pirate’s Booty, too. The complaint was partially dismissed in December 2020. BodyArmor called the lawsuit meritless in a 2019 press release. Two years ago, the bottling subsidiary of Keurig Dr Pepper (then called Dr Pepper Snapple Group) sued Repole and BodyArmor for suddenly transferring distribution rights to Coca-Cola, alleging it violated a prior agreement. That deal likely netted Repole tens of millions of dollars from a cash dividend, but it also got him in trouble. (AP Photo/Danny Moloshok) ASSOCIATED PRESS Late basketball star Kobe Bryant invested in BodyArmor after discovering the drink as an alternative to Gatorade while he was recovering from an injury. He also made an early investment in Kind, the snack bar maker, which was sold to candy conglomerate Mars last year at a reported $5 billion valuation. The next year, he plowed some of his take into a majority stake in the maker of Pirate’s Booty, the white-cheddar cheese rice and corn puffs brand, which he later sold to B&G Foods for nearly $200 million. Repole sold it to Coca-Cola that year for $4.1 billion. By 2007, the business reportedly employed 600 people and was doing about $400 million in annual revenue, thanks to key marketing deals with Jennifer Aniston and rapper 50 Cent. In the late 1990s he cofounded Glaceau-which makes the popular Vitaminwater and Smartwater brands. John’s University before becoming a salesman for a small company called Mistic Beverage. Born to a waiter and a seamstress, Repole grew up in Queens, New York and studied sports management at St.
WHO CREATED BODY ARMOUR DRINK SERIAL
(Photo by Jeff Bottari/Zuffa LLC/Zuffa LLC via Getty Images) Zuffa LLC via Getty ImagesĪ serial sports drink entrepreneur, this isn’t the first time Repole, 52, has struck a lucrative deal with Coca-Cola. The son of a waiter and a seamstress, Mike Repole is now a billionaire thanks to smart marketing-and lucrative dealmaking.
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