Axum Capital Partners has announced the acquisition of a controlling interest in BARCODE, a fast-growing performance hydration brand backed by athletes and wellness advocates. The investment marks another step in Axum’s strategy of supporting health and wellness businesses with strong long-term potential. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions. Financial terms of the deal were not disclosed.
Axum Expands Its Health and Wellness Portfolio
Charlotte-based Axum Capital Partners is a private equity firm that invests in food and beverage companies focused on health and wellness. With this acquisition, the firm is adding BARCODE to its growing portfolio of consumer brands.
The acquisition is being completed in partnership with NBA All-Star Victor Wembanyama, who will continue as a shareholder and strategic partner in BARCODE. Axum said the partnership reflects its commitment to building businesses alongside experienced founders, operators, and strategic partners.
Muhsin Muhammad II, Co-Founder and Managing Partner of Axum Capital Partners, said BARCODE has built a strong reputation in the rapidly growing hydration category. He added that the global health and wellness food and beverage market is expected to exceed $2 trillion by 2033, creating significant opportunities for brands that meet changing consumer preferences.
BARCODE Has Built a Strong Presence in Performance Hydration
BARCODE was co-founded by NBA champion Kyle Kuzma with the goal of creating a better hydration drink for athletes and active consumers. Since its launch, the brand has focused on offering plant-based hydration products made with functional ingredients.
According to the company, BARCODE drinks contain vitamins D, B6, and B12, magnesium, and ashwagandha, while containing no added sugar. The brand has attracted attention from consumers looking for hydration products that support active lifestyles. BARCODE has also received support from several well-known athletes and entertainers. Its group of investors and supporters includes Halle Berry, Kelly Rowland, Derrick Rose, Chelsea Gray, Carmelo Anthony, and Victor Wembanyama.
Partnership Supports Long-Term Growth
Axum Capital Partners believes BARCODE is well positioned to benefit from increasing consumer demand for health-focused beverages. The firm said the acquisition reflects its investment approach of partnering with businesses that have strong brands, loyal customers, and opportunities for long-term value creation.
Victor Wembanyama’s continued involvement as a shareholder and strategic partner is expected to provide additional support for the brand as it enters its next stage of growth. His partnership highlights BARCODE’s close connection with professional athletes and performance-focused consumers.
The announcement also recognizes the work of BARCODE’s founders and team in building the company into a recognized name in the performance hydration market. Axum said it looks forward to working alongside the company as it continues its journey.
Growing Demand for Functional Beverages
The functional beverage market has continued to expand as more consumers seek products that support hydration, fitness, and overall wellness. Brands offering clean ingredients and health-focused formulations have gained popularity among athletes as well as everyday consumers.
BARCODE has positioned itself in this growing category by focusing on plant-based hydration and functional nutrition. Its product formulation and athlete-backed brand have helped it stand out in a competitive market.
Looking Ahead
The acquisition represents an important milestone for both Axum Capital Partners and BARCODE. For Axum, the deal strengthens its presence in the health and wellness sector through another investment in a consumer-focused brand. For BARCODE, the partnership provides support from an experienced private equity firm while maintaining the involvement of Victor Wembanyama as a shareholder and strategic partner.
The transaction is expected to close during the third quarter of 2026, pending customary closing conditions. DLA Piper served as legal counsel to Axum Capital Partners for the acquisition. While the financial terms remain confidential, both companies described the partnership as an important step toward BARCODE’s continued growth in the performance hydration market.
