Dr Pepper Snapple’s $20 million gets it an almost 12% stake in BodyArmor. The sports drinks are currently sold in 25,000 stores across 40 states. However, it expects to increase its presence with help from DPS, reports The Wall Street Journal.
Dr Pepper Snapple isn’t the only one interested in BodyArmor; it has some big names, such as Kobe Bryant, Andrew Luck and Mike Trout, behind it as well. It’s considered a healthier substitute when compared its Gatorade and Powerade rivals, made by PepsiCo (PEP) and Coca-Cola (KO) respectively, due to its lack of artificial coloring and high-fructose corn syrup, WSJ notes.
“We’ve been pleased with BodyArmor’s growth over the past two years and believe it has strong potential as a premium sports drink,” Rodger Collins, president of packaged beverages at Dr Pepper Snapple, said in a statement. “It’s already a great part of our allied brand portfolio, it has a management team with the experience and passion to succeed, and we’re looking forward to contributing to that growth and success over the long term.”
DPS shares were down slightly as of Wednesday afternoon.