Mike Repole (born January 21, 1969) is the owner of Repole Stables and an entrepreneur in the United States. He is most known for co-founding Glaceau (the creator of Vitaminwater), which was acquired by Coca-Cola for $4.1 billion, and BODYARMOR SuperDrink, a sports drink company, which was acquired by Coca-Cola for $5.6 billion.
Mike Repole’s Beginnings
Mike Repole is a New Yorker who was born on January 21, 1969. He was the first in his family to graduate from high school with a bachelor’s degree. He graduated from St. John’s University with a degree in Sports Management in 1991 with a 2.2-grade point average. Mistic Beverages, a beverage company, was his first job out of college as a salesman. He then went to Crystal Geyser, where he rose through the ranks to become Vice President of Sales.
Mike Repole’s Profession
People began their professional life with Mistic Beverages. He rose through the ranks at Crystal Geyser to Vice President of Sales. In 1999, Repole and J. Darius Bikoff co-founded Energy Brands, better known as Glaceau, which manufactured Smartwater and Vitaminwater and is credited with establishing the enhanced water beverage industry. The company grew quickly, earning $1 million in its first year and surpassing $1 billion in sales by 2007 when it was the most popular water brand in the US. In 2007, Coca-Cola paid $4.1 billion to buy the company.
In 2009, Repole was elected to the Pirate’s Booty board of directors. He aided the company’s 300 percent growth in less than five years. B&G Foods purchased Pirate Brands in 2013 for $195 million.
BodyArmor Superdrink, a sports drinks brand, was developed by Repole and Lance Collins in 2011. BODYARMOR abbreviated BODYARMOR, sprang to prominence in 2014 after NBA player Kobe Bryant invested $5 million in the company and took on the job of creative director. Repole is currently Chairman of the Board, and Bryant was the company’s fourth-largest shareholder.
In August 2018, Coca-Cola became BodyArmor’s second-largest shareholder, in an attempt to undercut competitor Pepsi’s stronghold on the sports drink market with its Gatorade brand. According to Nielsen data, BodyArmor was the third most popular sports drink in 2018, with $400 million in revenue. In November 2021, Coca-Cola announced that it will pay $5.6 billion for the remaining 85 percent of the company. In 2019, Repole worked as a financial advisor to David Portnoy on Barstool Sports’ investment show “Big Brain,” alongside Jon Taffer.
Mike Repole’s Net Worth
Mike Repole is a $1 billion dollar millionaire businessman from the United States. Mike made his fortune as the entrepreneur or co-founder of several businesses, including the beverage brands Glaceau and BODYARMOR.
What He Makes a Living Doing
Because of his numerous business interests, determining his exact revenues is challenging. He got the most of his money from the Glaceau sale. He is said to have earned more than $100 million from the sale of freshwater.
Repole also controlled BodyArmor, a $400 million-a-year company. He makes most of his money through his several businesses.
A Pirate’s Booty
Mike purchased Pirate’s Booty, a snack company, with a share of the money from the Coca-Cola sale in 2009. In 2014, the company was bought for $200 million. He wasn’t done yet, though.
Mike then co-founded the beverage company BODYARMOR. In the year 2014, Kobe Bryant became a shareholder. Kobe is said to have bought a 10% stake in the business for $6 million. At the time, the company’s yearly revenue was less than $10 million. BODYARMOR’s revenue in 2018 was $400 million. The following year, Coca-Cola called. Coke spent $2 billion for a 20% stake in the company this time. The value of Kobe’s 10% stake soared from $6 million to $200 million. BodyArmor was purchased by Coca-Cola in November 2021 for $8 billion.
BODYARMOR has received support from athletes such as Mike Trout, Megan Rapinoe, and Trae Young. Like he did at Glaceau, all endorsers and many employees have received stock in the company.
Read More: click here for more information on pelhamplus.com