💧ATHLETES ON TAP

How Spindrift’s Equity Deal with Kevin Durant, Livvy Dunne, and Patricof Co Is Redefining the Beverage GameWhere athletes invest, brands scale.

Author

Samuel Rogers
October 02, 2025

🔥 TL;DR — Sparkling Water, Equity Stakes, and Athlete Moats

  • Spindrift just inked a first-of-its-kind ownership deal with pro athletes via Patricof Co and Gryphon Investors.

  • New equity partners include: Kevin Durant & 35V, DK Metcalf, Livvy Dunne, Azzi Fudd, Derrick White, Sophie Cunningham, and others.

  • This isn’t influencer fluff—it’s a multi-channel growth strategy powered by athlete capital and deep brand alignment.

  • The move positions Spindrift at the front of a $40B global wellness market and leverages the next-gen model of athlete-as-accelerator.

  • It’s Prime meets Erewhon, but with real fruit and real equity.

🧃 What Just Happened?

Spindrift—known for its clean, real-fruit sparkling water—has brought in a wave of athlete-investors through a strategic partnership with:

  • 🏛 Patricof Co (P/Co) — the athlete investment platform behind Calm, Cholula, and CleanCo

  • 💼 Gryphon Investors — PE firm holding a major growth stake in Spindrift

The athletes aren’t endorsing. They’re buying in.

👥 The Athlete Cap Table Includes:

  • Kevin Durant & Rich Kleiman (35V)

  • DK Metcalf (NFL)

  • Livvy Dunne (LSU/NIL queen)

  • Azzi Fudd (UConn basketball phenom)

  • Derrick White (NBA Champion)

  • Sophie Cunningham (WNBA)

  • Maarten Paes (MLS)

Each athlete is a genuine Spindrift fan. They’re also now co-owners of the brand.

📊 The Market Play: CPG Meets Cap Table

🥤 Sparkling Water Category in 2025:

  • Global Market: $38.8B

  • U.S. Market: $6.4B

  • Growth Rate: +7.3% CAGR through 2030

  • Gen Z & Millennial Buyers: 67% of total U.S. sales

  • Top Drivers: Real ingredients, no added sugar, authenticity, gut health, functional hydration

Spindrift is attacking 3 key weaknesses of its biggest competitors:

Brand

Artificial?

Athlete-Backed?

Equity Model?

Authenticity Rating

Gatorade

✅ Yes

❌ No

❌ No

★★☆☆☆

Prime

❌ No

✅ Yes (KSI/Logan)

❌ No

★★★★☆

Liquid Death

❌ No

❌ No

❌ No

★★★☆☆

Spindrift

❌ No

✅ Yes

✅ Yes

★★★★★

This isn't about viral TikToks. It’s about velocity, trust, and taste.

🧬 Why This Deal Works: The Athlete x Brand Fit

1. 🔗 Strategic Alignment

Athletes are disciplined about what they put in their bodies. Spindrift’s clean, “do it the hard way” philosophy mirrors elite performance culture.

“Athletes are careful about every calorie and every message. Spindrift checks both boxes.” — Mark Patricof, P/Co

2. 📦 Distribution as Defense

Patricof Co athletes expand organic reach:

  • Locker rooms → Fridge placement

  • College campuses → Brand loyalty

  • NBA/WNBA/MLS → International exposure

  • NIL stars → TikTok → Gen Z conversion

Athlete equity = embedded brand evangelism + free acquisition flywheel.

3. 💸 Financial Engineering for CPG Scale

Let’s run the numbers.

🧮 Spindrift (Private):

  • 2024 Revenue (Est.): $170M

  • Projected 2025 Growth: +30% YoY

  • Valuation (Gryphon-led round): $400M+

📈 Investment Math:

If athletes collectively invested ~$10M for ~2.5%:

  • Exit at $700M (2027 est.) → 2.75x return

  • With real involvement, social reach, and velocity push → 4–5x not unrealistic

📈 Category Heatmap: Where Spindrift Wins

Function

Gatorade

Prime

Liquid Death

Spindrift

Real Fruit

❌

❌

❌

✅

No “Natural Flavors”

❌

✅

✅

✅

Athlete-Owned

❌

❌

❌

✅

Premium Retail

❌

✅

✅

✅

Authenticity Trust

★★☆☆☆

★★★★☆

★★★☆☆

★★★★★

📹 Rollout Tactics: The Social Engine Begins

Spindrift is launching:

  • 🎥 Taste test series with athlete reactions (blind format, no bias)

  • 🍊 Draft-style flavor drops (Azzi’s pick vs. DK’s)

  • 📦 Surprise packs via DTC channels with exclusive “athlete-curated” SKUs

  • 🧃 On-campus samplings led by Livvy Dunne and Azzi Fudd’s massive NIL footprint

🧠 Blunt Insight: This Is the Playbook Now

This is the future of CPG brand building:

“Put real product in real hands of people with real reach and real equity.”

The result?

  • 🧃 Performance halo

  • 💰 Long-term returns

  • 🔒 Competitive moat

Spindrift isn’t chasing hype. It’s engineering distribution through the body, locker room, and algorithm. And with athletes like Durant on the cap table, it’s playing the long game.

Every week, we break down sports, strategy, brand power, and financial warfare—no fluff, just facts.

🧠 Data-first. Equity-savvy. Blunt Insight.