Axum Capital Acquires Stake in Barcode Drinks

Axum Capital Partners, a private-equity firm based in Charlotte, has acquired a controlling stake in Barcode, a US sports-drinks brand. The transaction, announced on August 4, marks a significant milestone for Barcode, which has garnered support from celebrities such as Halle Berry, Kelly Rowland, and Carmelo Anthony.

NBA star Victor Wembanyama is set to continue his involvement with the company as a shareholder and strategic partner. Despite the acquisition, details regarding the size of the stake and other financial terms were not disclosed. Axum did not reveal the seller's identity or provide further information about other shareholders involved.

The company emphasizes its focus on partnering with Barcode's leadership team to explore opportunities for long-term growth. Axum stated, "Right now, our priority is supporting the team, investing in the business and ensuring Barcode has the resources and leadership it needs to succeed in its next chapter." The deal is expected to be finalized during the third quarter of this year.

Barcode positions itself as the "first-ever premium, all-natural, performance hydration drink" in the US market. Its products are sugar-free and enriched with vitamins D, B6, and B12, as well as magnesium and ashwagandha. Founded in 2021 by US basketball player Kyle Kuzma and former NBA performance director Mubarak Malik, Barcode aims to capitalize on the growing health and wellness trend.

Axum Capital Partners, co-founded by former NFL player Muhsin Muhammad, focuses on supporting health and wellness-oriented food and beverage brands. With the global health and wellness food and beverage market projected to exceed $2 trillion by 2033, Axum is reinforcing its commitment to backing category-defining brands. In May, Axum made a growth equity investment in VitaHustle, the nutrition product line co-founded by comedian Kevin Hart and fitness trainer Ron "Boss" Everline.