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Nobull is a training brand founded in 2015 by former Reebok CEOs Marcus Wilson and Michael Schafer.
Source: Noble
The man who turned Vitaminwater and BodyArmor into house beverage names is turning his attention to making athletic shoes.
He told CNBC on Thursday that Mike Ripoll’s private equity firm will buy a majority stake in Noble. It’s the first major investment for Impact Capital, the private equity arm of the Repole family office.
“I fell in love with the name Nobel and its brilliance and what it stands for. It’s no excuses, no BS, just get it done,” he said.
Terms of the deal were not disclosed, but Repole said it was his largest investment in a brand to date.
Nobull is a training brand founded in 2015 by former Reebok CEOs Marcus Wilson and Michael Schafer. The Boston-based company employs about 100 people across the United States, United Kingdom, and China, and sells its athletic shoes and apparel primarily online.
Nobull is a Boston-based shoe, apparel, and accessory brand.
Source: Noble
In recent years, the company has signed partnerships with fitness brand CrossFit, The PGA Tour, and NFL Combine.
Ripoll said he first reached out to the founders about 14 months ago with a deal offer. He went ignore it. Ripoll said he continued to communicate until about two months ago when they met and he hit it off instantly with a shared vision of success.
“I think this brand can really be a life-changing brand for a lot of people,” Ripoll said. “The gentleman’s mindset is about being a better version of yourself and just cutting out the noise and the clutter.”
Ripoll said his plans for the brand could eventually include an initial public offering.
“If we were to build this massive multi-billion platform…to get that audience out there, I think would be the best way to do it,” he said.
Co-founder Wilson said Ribul’s history of successful exits is part of what makes him a compelling partner for Nobull.
He sold Repole BodyArmor to Coca-Cola for $5.6 billion in 2021. Prior to that, he co-founded Glaceau, maker of the popular Vitaminwater and Smartwater brands, which was also sold to Coke in 2007.
“When we think about the next phase or the next chapter of this book for our brand, Mike is somebody who’s gone a few times where we’re going and there’s often multiple chapters in that book,” Wilson told CNBC.
In the near term, the trio will focus on expanding the brand.
“One of the many things that (Repoll) and his team bring is operational excellence,” Wilson said. “Mike gets what it takes to go from hundreds of millions to billions.”
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