Kobe Bryant’s estate is set to receive nearly $400 million from Coca-Cola after the company has gained complete ownership of the drink company Bodyarmor.
According to CNBC, Coca-Cola officially announced today that it has purchased full control of the sports drink Bodyarmor for a whopping $5.6 billion. This purchase is the biggest brand acquisition for Coca-Cola yet.
The multinational beverage corporation allegedly first bought a 15% stake in Bodyarmor in 2018, making it the second-largest shareholder of the sports drink company. At the time of Coca-Cola’s purchase of a 15% stake, Kobe Bryant was the third-largest shareholder because of his investment in the company in 2013 – only two years after Bodyarmor was founded.
Although Coca-Cola’s purchase of Bodyarmor today is big news, it isn’t entirely a surprise, because the beverage corporation said in February of this year that it had plans to purchase a controlling interest in Bodyarmor before the end of the year.
Mike Repole, a co-founder of Bodyarmor, is reportedly expected to stick around after Coca-Cola’s acquisition of the sports drink company to collaborate on plans and strategies moving forward.
“After I spoke to Chairman and CEO of Coca-Cola James Quincey, I asked him if I could be chairman of the board. I think he muted me after that,” Repole reportedly told CNBC today. “But I wasn’t afraid to ask, so I’m going to try my best to get on the board.”
Coca-Cola’s purchase of full control of Bodyarmor will give Kobe Bryant’s estate nearly $400 million because of the late basketball player’s investment in the company in 2013.
This $400 million comes to Kobe Bryant’s estate as his widow Vanessa Bryant is still in the middle of battling L.A. County over its employees allegedly leaking photos of her husband and daughter’s dead bodies after they died in a tragic helicopter crash in January 2020.
As Radar reported in October, Vanessa Bryant claimed that the leaked photos of her husband and daughter after the crash caused unnecessary emotional distress to her and her remaining family.
L.A. County is disputing this lawsuit because they reportedly believe Vanessa and her family didn’t suffer emotional distress due to the leaked photos, but because of the tragic and fatal helicopter crash itself.
So far, there has been no update regarding Vanessa’s lawsuit against L.A. County.