Juicy J will likely be able to afford whatever he wants this Christmas after a hydration company he invested was recently acquired for $525 million. According to a Bevnet press release, Keurig Dr. Pepper (KDP) bought CORE Nutrition — owner of CORE Hydration — late last month after beginning negotiations in September.
The Three 6 Mafia vet celebrated the news on Instagram, writing: “The best investment i made in my life.”
Wholesale sales for CORE were between $70 and $80 million, while retail sales were close to $200 million. KDP expects to reel in $90 million in tax benefits as part of the deal.
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“KDP has been an outstanding partner for CORE and I am certain that, under its ownership, CORE will continue to see tremendous long-term success,” founder Lance Collins said in a press release. “I am a strong supporter of the KDP strategy and business model and am looking forward to being a shareholder in the company.”
Juicy J invested roughly three years ago. Other investors included celebrities Katy Perry and Diplo.
