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Comedian Kevin Hart took an equity stake in sports supplement maker Nutrabolt and will become its brand ambassador, the company said on Tuesday.
The 19 year-old company, based in Austin, Tx. makes pre-workout products and energy drinks that Hart says he was using before the investment.
“This isn’t a promo opportunity,” Hart told CNBC. “This isn’t just an ambassador play. This isn’t one foot in, one foot out. This is really about merging my real lifestyle with a product that I genuinely use.”
Terms of the deal, which was inked with Hart’s private investment firm, were not disclosed.
Nutrabolt chief executive, Doss Cunningham, said retail sales for its C4 beverage line grew by 163 percent last year and that the company generated nearly $650 million in revenues in 2020.
Its products are sold in big chains, including Walmart and Target.
Hart, who has invested in an electric toothbrush subscription company, Bruush and in Liquid I.V., a drink company that was acquire by Unilever last year, may be joined by other celebrities who could be brought into the fold, Cunningham told CNBC.
“Everything is on the table,” Cunningham said. “We’re focused on continuing to broaden our reach and currently working on bringing a diverse group of athletes, artists, and other brand ambassadors into the fold. We’re working on a lot of deals right now that are exciting. We’ll see that roster in 2021 grow.”
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