LOS ANGELES — During Friday's episode of ABC's "Shark Tank," Noot! Nutrition announced a $4 million distribution deal with Walgreens that will see its RuckPack eneregy shot distributed across the chain's more than 8,600-store base. According to company founder Rob Dyer, this will make RuckPack "an actual contender in the energy drink category."
If successful, the new energy shot will provide a much-needed jolt to the $389.8 million category, which is down 10.7% in sales for the 52 weeks ended Nov. 3 across total U.S. multi-outlet channel, as defined by IRI.
Living Essentials' 5 Hour Energy dominates that category with an 85.5% dollar share and $333.4 million in sales. The leading competitor, NVE Pharmaceuticals' Stacker 2 Xtra, possesses a 4.3% dollar share with $16.7 million in sales. Another NVE Pharmaceutical SKU, Stacker 2, has a 2.7% dollar share with $10.6 million in sales.
Noots! Nutrition received $150,000 in venture funding last year from "Shark Tank" panelists Kevin O'Leary and Robert Herjavec. “This is a huge boost for RuckPack,” Dyer said after the broadcast. “We are indebted to everyone at ‘Shark Tank’ for their belief in the consumer value and future potential of RuckPack. This infusion of funds will help us to expand production to meet the already strong demand, as well as to extend national distribution.”
Dyer was a Marine aviation officer who served two tours of duty in Iraq and two in Afghanistan, where he formed the idea for RuckPack. He launched the product on Veterans Day 2011 while he was completing his MBA in financial management at the Naval Postgraduate School in Monterey, Calif.
RuckPack is a single serving nutritional shot that sustains energy by supplying the vitamins, electrolytes and ingredients the body needs for peak mental and physical performance, the company stated.