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

The estate of late Los Angeles Lakers legend, Kobe Bryant, will get around $400 million as part of BodyArmor’s $5.6 billion sales to Coca-Cola Co.

Coke announced this on Monday saying that it paid $5.6 billion for the outstanding 85% stake in BodyArmor.

It could be recalled that Coke originally bought a 15% stake in the line of beverages in 2018 and the company announced its purchase on Monday at exactly 8:24 a.m to commemorate the two jersey numbers the late basketball player wore during his NBA tenure.

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

Company officials are now exploring “on the next stage of growth” for BodyArmor, Coca-Cola North America President, Alfredo Rivera, said in a statement. Also, Coke stated that it expects BodyArmor to generate roughly $1.4 billion in sales this year.

Following Monday’s sale, BodyArmor co-founder, Mike Repole, credited the late NBA star for helping in the company’s growth.

Repole said: “If it wasn’t for Kobe Bryant’s vision and belief, BodyArmor would not have been able to achieve the success we had. 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 according to Forbes was worth up to $600 million at the time of his death and which widow, Vanessa Bryant inherited control of, will get roughly $400 million payoff from the deal according to the Wall Street Journal.