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HomeCelebrity NewsKobe Bryant estate to recieve $400 million after BodyArmor announces $5.6 Billion...

Kobe Bryant estate to recieve $400 million after BodyArmor announces $5.6 Billion sales

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The estate of Los Angeles Lakers legend Kobe Bryant will reportedly recieve around $400 million as part of BodyArmor’s $5.6 billion sales to Coca-Cola Co; as Coca-Cola announced On Monday, November 1st that it has purchased full control of BodyArmor for $5.6 billion; making it the company’s largest brand acquisition to date.

Coke said on Monday that it paid $5.6 billion for the outstanding 85% stake in BodyArmor. Coke originally bought a 15% stake in the line of beverages in 2018. The purchase was announced Monday at exactly 8:24 a.m. to commemorate the two jersey numbers Bryant wore during his NBA tenure.

The BodyArmor move marks the largest single amount Coke has ever paid for a beverage brand. Coke bought Glaceau water for $4.1 billion in 2007 and paid $5.1 billion in 2018 for Costa Coffee.

Kobe Bryant estate to recieve $400 million after BodyArmor announces $5.6 Billion sales
The Bryant family

According to LIB, In 2014, Bryant purchased around a 10 percent stake in BodyArmor. Darren Rovell of ESPN reported in August 2018 the value of his investment approached $200 million; after Coca-Cola obtained a minority stake in the company.

Following Monday’s sale, BodyArmor co-founder Mike Repole credited Bryant with helping in the company’s growth.

“If it wasn’t for Kobe Bryant’s vision and belief, BodyArmor would not have been able to achieve the success we had,” he said. “I couldn’t be more excited to become part of the Coca-Cola family and set our sights on the future.”

Bryant’s estate, which Forbes reported was worth up to $600 million at the time of his death and which widow Vanessa Bryant inherited control of, will see a roughly $400 million payoff from the deal, the Wall Street Journal reports.

Ada Ugo
This 25 year old, is Art And All That Is Art. Writer, Film and stage actor, Mental Health Lay counselor and show host.

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