The Phoenix Suns star will work alongside partners Charles Barkley, D’Angelo Russell, Derrick Rose, Marcus Morris, Markieff Morris, Jahlil Okafor, and Michael Wilbon.
Clean coconut water brand, Coco5, has announced NBA superstar, Devin Booker as its new owner. The Phoenix Suns shooting guard will work in tandem with partners Charles Barkley, D’Angelo Russell, Derrick Rose, Marcus Morris, Markieff Morris, Jahlil Okafor, and Michael Wilbon.
Coco5 is a natural sports and wellness drink formulated to offer complete hydration without compromising on great taste. The non-GMO, gluten free, and vegan beverage contains only 7 ingredients. Each flavor is made with a proprietary blend of vitamins to maximize nutrient and electrolyte absorption and provide sustainable energy.
“Coco5 is the best hydration drink on the market, period. I love that I have the opportunity be a part owner of a beverage company,” states Devin Booker. “I wanted to roll up my sleeves and be able to not just be an ambassador or an advocate, but I can weigh in on things like content creation, marketing, help build relationships with retailers and more. It’s incredible experience for me but more so I truly believe in the product and my business partners – namely Jim Reynolds at Loop Capital who brought me into the company.”
Beyond his career as a professional athlete, Booker has long explored opportunities to invest and grow as an entrepreneur. He worked closely with Jim Reynolds, the founder, CEO, and Chairman of global financial services firm, Loop Capital, to broker an ownership deal and bring his partners on board.
“I truly believe that every professional athlete should focus on their financial health outside of sports. Owning equity in a growing company is where real wealth is created,” says Jim Reynolds. “The Loop Capital team has been extremely strategic in setting up Devin and this group of partners for long-term success. With the players behind it, I have no doubt that Coco5 will grow to be a billion-dollar company.”
Booker’s role as owner will include overseeing and directing the branding and marketing of Coco5, among other responsibilities. He will work closely alongside his business partners – Charles Barkley, D’Angelo Russell, Derrick Rose, Marcus Morris, Markieff Morris, Jahlil Okafor, and Michael Wilbon – on strategy and high-level planning.
“I am thrilled to have Devin in the driver’s seat for Coco5. His genuine passion for the company and love of the drink itself speaks volumes to the true quality and un-matched nutrition of this product,” says Miles Reynolds, co-founder of Loop Wealth, a subsidiary of Loop Capital. “Devin and the entire group of partners understand the importance of healthy fuel and hydration. I couldn’t imagine a better team for this brand — the future is bright for Coco5.”
Coco5 retails for $29.95 (12-pack) and is available for purchase direct-to-consumer at Coco5.com or Amazon and Whole Foods, among a variety of independent and specialty grocery stores.
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