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American beverage tycoon Mike Repole, who co-founded Vitaminwater and BodyArmor and sold both to Coca-Cola Co., has agreed to buy a majority stake in Italian football club Spezia Calcio.
The club announced the deal on Nov. 13. It did not disclose the price or the size of the stake. Repole will work alongside Tom Roberts to run the club's long-term growth, Spezia said. Charlie Stillitano stays on as president, and the current management team remains in place to run day-to-day operations.
Spezia, founded in 1906 in the port city of La Spezia on the Ligurian coast, marked its 120th anniversary on Oct. 10. The club played in Serie A as recently as the 2022-23 season and now sits top of Group A of Serie C, Italy's third tier.
"Sport has always played a fundamental role in my life," Repole said in the club statement, according to a translation from Italian. "I was incredibly impressed by the loyalty and passion of the fans. We want to build something significant and lasting."
Roberts said he was "incredibly proud of what we have achieved at Spezia" and called Repole's arrival "an exciting opportunity to consolidate this progress." The new owners plan to look at player development, youth and women's football, facilities and the experience of fans at the stadium.
From Queens to Coca-Cola
Repole, 57, grew up in Middle Village, Queens, the son of Italian immigrants. His mother was a seamstress and his father a waiter. He was the first in his family to attend college, graduating from St. John's University with a degree in sports administration.
He co-founded Energy Brands, the maker of Glaceau Vitaminwater, in 1999. Coca-Cola bought the company in 2007 for $4.1 billion. In 2011 he co-founded sports drink maker BodyArmor with Lance Collins. Coca-Cola took a minority stake in 2018 and bought the remaining 85% in November 2021 for $5.6 billion, its largest brand acquisition at the time.
Repole also chaired snack maker Pirate Brands, which B&G Foods bought for $195 million in 2013.
Outside the drinks business he is one of the best-known owners in American horse racing. His Repole Stable campaigned Uncle Mo, won the 2019 Breeders' Cup Classic with Vino Rosso and took the 2022 Belmont Stakes with Mo Donegal.
Spezia joins a long list of Italian clubs bought by American investors, including AC Milan, Fiorentina, AS Roma and Atalanta.
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