Dr Pepper Snapple raises ownership position in BodyArmor to 15.5%
The additional $6 million stake builds on the initial $20 million investment announced in August 2015 and raises DPS's ownership position from 11.7 percent to 15.5 percent.
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." ■