Dr. Pepper invests $20M in BodyArmor, rival of PepsiCo's Gatorade, in hot sports drink market

Markets Associated Press

Dr. Pepper Snapple is making a $20 million investment in BodyArmor, a rival of PepsiCo's Gatorade brand.

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That gives Dr. Pepper an 11.7 percent stake in BA Sports Nutrition LLC, the company that introduced BodyArmor in 2012.

Among existing investors in the brand is NBA star Kobe Bryant.

Dr. Pepper Snapple Group Inc. has carried BodyArmor in its direct store delivery network since 2013, and plans to expand the product line over the next year.

The company said Wednesday that the terms of the transaction won't have a material impact on its financial statements.