Keurig Dr Pepper Pays $863 Million for Equity in C4 Energy Drink Maker

Dec. 9, 2022
Nutrabolt company will get KDP’s sales and distribution; KDP gets 30% ownership.

Keurig Dr Pepper Inc. (KDP) today (Dec. 8) announced a strategic partnership to buy into Nutrabolt, parent of the C4 energy drink, at a price of $863 million.

KDP called Nutrabolt “a rapidly growing, global active health and wellness company with a portfolio of brands, including C4 Energy, one of the fastest-growing performance energy drink brands in the U.S.; C4 Pre-Workout, the leading pre-workout brand globally; and XTEND, the No. 1 post-workout recovery brand in the U.S.”

Under the long-term agreement, KDP will sell and distribute C4 Energy in the vast majority of KDP's company-owned direct store distribution territories, “which is expected to meaningfully increase retail availability and household penetration for the brand.” Nutrabolt will continue to distribute C4 Energy to the specialty, health club and fitness channels and will continue to work with some of its existing beverage distributors in certain markets.

The $863 million buy-in gets “preferred equity with a 5% annual coupon paid in cash or in-kind. The investment provides KDP with an ownership stake of approximately 30%, making KDP the largest investor in Nutrabolt behind its Founder, Chairman and CEO Doss Cunningham.” KDP also gets rights to increase its ownership stake under various capital raising scenarios.

About the Author

Dave Fusaro | Editor in Chief

Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.

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