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Listen "Ryan Lewendon: A Candid Conversation with the Lawyer Behind the BodyArmor Acquisition"
Episode Synopsis
Join us for a candid conversation with Ryan Lewendon, the lawyer who played a pivotal role in the BodyArmor acquisition. Ryan shares his experiences working with high-profile clients such as Kobe Bryant and Ryan Rapole. He provides an inside look at the legal and strategic considerations that go into his day-to-day business endeavors. Ryan offers valuable lessons for anyone interested in the world of start-up businesses. Listen as he shares his unique perspective and insight.
https://youtu.be/3bIo37aHUaU
Brett Gilliland: Welcome to the Circuit of Success. I'm your host, Brett Gilliland, and today I've got Ryan Lewendon with me. Ryan, how you doing?
Ryan Lewendon: Great. I'm doing great, Brett. Thanks for having me. I'm excited to be here.
Brett Gilliland: Absolutely, man. You're coming to us from New York City today, is that correct?
Ryan Lewendon: That is right. I'm in, uh, Manhattan at my, uh, at my apartment, just, uh, Pump to pump to speak.
Brett Gilliland: Awesome. Awesome, man. Well, I know you also have an office in California as well. Uh, Giannuzzi Lewendon Law Firm, uh, is a high growth food, beverage, and personal care industries is who you guys are serving. You guys founded it in 2011. Uh, you represent over a thousand consumer products. And here's the one that my kids were excited about.
I told you before we started recording. It says, uh, most notably Ryan represented Body Armor in Coca-Cola's, largest ever brand acquisition with Coca-Cola, purchasing the remainder of Body Armor for 5.6 billion dollars at an enterprise value of 8 billion dollars man, talk about that a little bit, man. Cause that's, that doesn't just happen overnight. So that was a long journey, I'm sure, right?
Ryan Lewendon: Yeah. Yeah. I mean, you know, my firm Giannuzzi Lewendon, we, we differentiate ourselves in really two ways. One, We're contextual experts in consumer, right? So we only work with consumer brands. We only work on the brand side, and it's all sort of everything topical or ingestible.
So that's food, that's beverage, that's spirits, that's baby, that's pet, that's beauty, right? And um, I got into the industry through Vitamin Water. So my partner Nick, and I. We're the first lawyers for Vitamin Water and we get everything for Vitamin Water from every min, every round of financing, every distribution agreement, manufacturing agreement, every celebrity partnership, 50 cents deal with Vitamin Water.
We had his, uh, own flavor and equity in the brand was one of my first deals at a law school and Jennifer Anniston's deal, which became, we went with Smartwater. That became one of the longest running CPG partnerships of all time. I think it went over 15 years after the sale to Coke, we did everything, uh, through the sale of Coke for 4.8 billion in 2007.
Um, and from there we realized we had this great perspective on how to grow and scale a C P G business from the ground up. Right? Mo most lawyers kind of have this top down perspective on their clients. Like they know what the legal aspects are, but they don't really know how or why the business is built or why it grows, or why the people in the industry are important or how they interlock.
And because of our experience of Vitamin Water, we realized we had this great viewpoint on it and we realized that these, these entrepreneurs who were growing these fast businesses, um, it was very valuable to them. So, uh, you know, Nick and I sort of, Put a little end cap on the career. Um, you know, last year with, uh, the Body Armor deal.
Um, that's a company that I had worked with since, uh, 2011 when we started the firm. Um, you know, we left a bigger firm we were at and, and started this firm and, um, you know, it was, it was a great experience just from, you know, everything from, you know, the Kobe deal to the keurig Dr. Pepper deal to the Coke deal and, um, yeah, it, it, it was a, you know, it was a overnight success that, you know, happened over 10 years.
Right. It, it was right. He was, you know, Mike Repole and, and the team. Um, and you know, Mike was also the, one of the co-founders of Vitamin Water, so we knew each other really well. And, um, just a, a great prolific entrepreneur who, you know, uh, one of his sayings is, success is best when shared. Right. And, um, you know, he's someone that I would say kind of.
Proliferated the, the, the, the tech concept and CPG of sort of like paying everyone in options and making sure everyone was sort of, you know, uh, an equity owner in the business. And, um, you know, we carried that over from Vitamin Water to Body Armor. And when that company sold, you know, like it made a couple billionaires, maybe like, I think maybe 10 or 2000 millionaires, but it made.
Over 800 millionaires on that cap table.
Brett Gilliland: Wow.
Ryan Lewendon: And those were all, and those were all employees, right? They were all employees and former employees and service providers. And there was almost no private equity in that business. Whatsoever. It was all basically individuals on that cap table. Um, and so, you know, you just see the redistribution of wealth from that one deal was, uh, so immense and, and changed a lot of people's lives.
Brett Gilliland: Um, oh, for sure.
Ryan Lewendon: But really starts with, you know, someone who's a phenomenal entrepreneur, who's, you know, not willing, um, to, uh, you know, Keep it all to themselves or someone who wants to focus on sort of building a team and making sure that team's incentivized and making sure that team is, um, you know, highly motivated.
Right. And you know, by the way, I was a recipient of that generosity. Um, so, you know, I certainly really appreciate it and
Brett Gilliland: You're like, we can't afford your law bills, but we can give you some stock in the company. Right.
Ryan Lewendon: E Exactly, exactly. And um, um, just gimme one sec. Uh, yeah. And it was just, it was phenomenal.
Brett Gilliland: That's crazy. So, let's talk a little bit about, if we can, before we, I wanna keep diving into some of that stuff and the learnings and all that, but tell us a little bit about your background. So like, you don't, again, I always say you don't just wake up and start doing this and representing 50 cent and Kobe Bryant and Generat Innocent, all these brands, all this stuff.
Not representing them per se, but working with them. Um, what, what was your, your backstory there. What, what got you started?
Ryan Lewendon: Yeah. So, you know, I, um, I went to college in New Orleans at Tulane University and uh...
Brett Gilliland: I was, sorry to interrupt, but I was gonna say we have that in common, the green wave.
Ryan Lewendon: Oh, I love that.
Brett Gilliland: I didn't go to Tulane, but my high school was, uh, Mattoon. GreenWave, which I think it's the wind blowing through the corn. It's very scary, very scary when you're playing us.
Ryan Lewendon: I love that. Green Wave. All right.
Brett Gilliland: That's right.
Ryan Lewendon: Um, so I went to college down there. Uh, you know, I, I, I kind of studied molecular and cellular biology.
I, I, I first wanted to be a surgeon. I realized that, um, You know, pretty early on that I don't like dissecting people, so that was gonna be a somewhat of an impediment to continuing that.
Brett Gilliland: Right.
Ryan Lewendon: Um, uh, and then, you know, it's sort of like I worked at a research lab in genetics and over a summer and I realized I wanted to do something a bit more, um, people facing.
Right. Um, I wanted something where I interact with people a bit more. So, you know, around my, uh, senior year, I'd been working at a bar and I ended up running it. My senior year and a year after college and I was kind of trying to figure out, you know, what do you want to do? Um, and um, you know, while I was running the bar, I started to see how people's sort of tastes were fragmenting, like, you know, um, people were coming in, they were like kind of.
Wanting more Artisinal products. They wanted like an Abida amber instead of a Miller Light. And they were like asking for sort of like those smaller, more craft manufactured products. And you know, then there were kind of entrepreneurs were coming in and pitching their sort of craft spirits and stuff to me.
And you know, then I would, um, Then I would have people, like people would be asking for it at the bar. And I, I, it kind of stuck with me how people's tastes were changing in terms of what they were consuming. And they wanted sort of, you know, things that meant a little bit more to them. They wanted something that wasn't really put out by, you know, a big conglomerate.
And, um, I ended up going to law school. Um, you know, I wanted to maybe work in, um, You know, in the medical field somehow. And, um, you know, when I got outta law school on the corporate side, I, I basically got this job working, um, uh, for my, my now partner Nick, and you know, the Vitamin Water when like that was an early client that kind of stuck with me.
I realized, oh yeah, this is something. You know, I've, I've seen a little bit, and this is something where people's tastes are changing. So, you know, I lobbied to get myself on the account and, um, you know, working, working on the Vitamin Water stuff was basically my education. How to sort of scale and, and grow a cPG business. And um, you know, luckily after that sold, uh, Nick and I went to our, uh, our first trade show together. It was in Boston in 2008. It was Expo East, you know, and we kind of like, you know, had an idea like, Hey, maybe there's more people who need this type of, you know, um, representation right need.
Brett Gilliland: Right.
Ryan Lewendon: Like a brand first representation or a founder first representation. And we walked that show and we were like, Hey, we're lawyers. Does anyone need a lawyer? And uh, people were like, well, I'm not getting sued right now. And we'd be like, no, no, no.
https://youtu.be/3bIo37aHUaU
Brett Gilliland: Welcome to the Circuit of Success. I'm your host, Brett Gilliland, and today I've got Ryan Lewendon with me. Ryan, how you doing?
Ryan Lewendon: Great. I'm doing great, Brett. Thanks for having me. I'm excited to be here.
Brett Gilliland: Absolutely, man. You're coming to us from New York City today, is that correct?
Ryan Lewendon: That is right. I'm in, uh, Manhattan at my, uh, at my apartment, just, uh, Pump to pump to speak.
Brett Gilliland: Awesome. Awesome, man. Well, I know you also have an office in California as well. Uh, Giannuzzi Lewendon Law Firm, uh, is a high growth food, beverage, and personal care industries is who you guys are serving. You guys founded it in 2011. Uh, you represent over a thousand consumer products. And here's the one that my kids were excited about.
I told you before we started recording. It says, uh, most notably Ryan represented Body Armor in Coca-Cola's, largest ever brand acquisition with Coca-Cola, purchasing the remainder of Body Armor for 5.6 billion dollars at an enterprise value of 8 billion dollars man, talk about that a little bit, man. Cause that's, that doesn't just happen overnight. So that was a long journey, I'm sure, right?
Ryan Lewendon: Yeah. Yeah. I mean, you know, my firm Giannuzzi Lewendon, we, we differentiate ourselves in really two ways. One, We're contextual experts in consumer, right? So we only work with consumer brands. We only work on the brand side, and it's all sort of everything topical or ingestible.
So that's food, that's beverage, that's spirits, that's baby, that's pet, that's beauty, right? And um, I got into the industry through Vitamin Water. So my partner Nick, and I. We're the first lawyers for Vitamin Water and we get everything for Vitamin Water from every min, every round of financing, every distribution agreement, manufacturing agreement, every celebrity partnership, 50 cents deal with Vitamin Water.
We had his, uh, own flavor and equity in the brand was one of my first deals at a law school and Jennifer Anniston's deal, which became, we went with Smartwater. That became one of the longest running CPG partnerships of all time. I think it went over 15 years after the sale to Coke, we did everything, uh, through the sale of Coke for 4.8 billion in 2007.
Um, and from there we realized we had this great perspective on how to grow and scale a C P G business from the ground up. Right? Mo most lawyers kind of have this top down perspective on their clients. Like they know what the legal aspects are, but they don't really know how or why the business is built or why it grows, or why the people in the industry are important or how they interlock.
And because of our experience of Vitamin Water, we realized we had this great viewpoint on it and we realized that these, these entrepreneurs who were growing these fast businesses, um, it was very valuable to them. So, uh, you know, Nick and I sort of, Put a little end cap on the career. Um, you know, last year with, uh, the Body Armor deal.
Um, that's a company that I had worked with since, uh, 2011 when we started the firm. Um, you know, we left a bigger firm we were at and, and started this firm and, um, you know, it was, it was a great experience just from, you know, everything from, you know, the Kobe deal to the keurig Dr. Pepper deal to the Coke deal and, um, yeah, it, it, it was a, you know, it was a overnight success that, you know, happened over 10 years.
Right. It, it was right. He was, you know, Mike Repole and, and the team. Um, and you know, Mike was also the, one of the co-founders of Vitamin Water, so we knew each other really well. And, um, just a, a great prolific entrepreneur who, you know, uh, one of his sayings is, success is best when shared. Right. And, um, you know, he's someone that I would say kind of.
Proliferated the, the, the, the tech concept and CPG of sort of like paying everyone in options and making sure everyone was sort of, you know, uh, an equity owner in the business. And, um, you know, we carried that over from Vitamin Water to Body Armor. And when that company sold, you know, like it made a couple billionaires, maybe like, I think maybe 10 or 2000 millionaires, but it made.
Over 800 millionaires on that cap table.
Brett Gilliland: Wow.
Ryan Lewendon: And those were all, and those were all employees, right? They were all employees and former employees and service providers. And there was almost no private equity in that business. Whatsoever. It was all basically individuals on that cap table. Um, and so, you know, you just see the redistribution of wealth from that one deal was, uh, so immense and, and changed a lot of people's lives.
Brett Gilliland: Um, oh, for sure.
Ryan Lewendon: But really starts with, you know, someone who's a phenomenal entrepreneur, who's, you know, not willing, um, to, uh, you know, Keep it all to themselves or someone who wants to focus on sort of building a team and making sure that team's incentivized and making sure that team is, um, you know, highly motivated.
Right. And you know, by the way, I was a recipient of that generosity. Um, so, you know, I certainly really appreciate it and
Brett Gilliland: You're like, we can't afford your law bills, but we can give you some stock in the company. Right.
Ryan Lewendon: E Exactly, exactly. And um, um, just gimme one sec. Uh, yeah. And it was just, it was phenomenal.
Brett Gilliland: That's crazy. So, let's talk a little bit about, if we can, before we, I wanna keep diving into some of that stuff and the learnings and all that, but tell us a little bit about your background. So like, you don't, again, I always say you don't just wake up and start doing this and representing 50 cent and Kobe Bryant and Generat Innocent, all these brands, all this stuff.
Not representing them per se, but working with them. Um, what, what was your, your backstory there. What, what got you started?
Ryan Lewendon: Yeah. So, you know, I, um, I went to college in New Orleans at Tulane University and uh...
Brett Gilliland: I was, sorry to interrupt, but I was gonna say we have that in common, the green wave.
Ryan Lewendon: Oh, I love that.
Brett Gilliland: I didn't go to Tulane, but my high school was, uh, Mattoon. GreenWave, which I think it's the wind blowing through the corn. It's very scary, very scary when you're playing us.
Ryan Lewendon: I love that. Green Wave. All right.
Brett Gilliland: That's right.
Ryan Lewendon: Um, so I went to college down there. Uh, you know, I, I, I kind of studied molecular and cellular biology.
I, I, I first wanted to be a surgeon. I realized that, um, You know, pretty early on that I don't like dissecting people, so that was gonna be a somewhat of an impediment to continuing that.
Brett Gilliland: Right.
Ryan Lewendon: Um, uh, and then, you know, it's sort of like I worked at a research lab in genetics and over a summer and I realized I wanted to do something a bit more, um, people facing.
Right. Um, I wanted something where I interact with people a bit more. So, you know, around my, uh, senior year, I'd been working at a bar and I ended up running it. My senior year and a year after college and I was kind of trying to figure out, you know, what do you want to do? Um, and um, you know, while I was running the bar, I started to see how people's sort of tastes were fragmenting, like, you know, um, people were coming in, they were like kind of.
Wanting more Artisinal products. They wanted like an Abida amber instead of a Miller Light. And they were like asking for sort of like those smaller, more craft manufactured products. And you know, then there were kind of entrepreneurs were coming in and pitching their sort of craft spirits and stuff to me.
And you know, then I would, um, Then I would have people, like people would be asking for it at the bar. And I, I, it kind of stuck with me how people's tastes were changing in terms of what they were consuming. And they wanted sort of, you know, things that meant a little bit more to them. They wanted something that wasn't really put out by, you know, a big conglomerate.
And, um, I ended up going to law school. Um, you know, I wanted to maybe work in, um, You know, in the medical field somehow. And, um, you know, when I got outta law school on the corporate side, I, I basically got this job working, um, uh, for my, my now partner Nick, and you know, the Vitamin Water when like that was an early client that kind of stuck with me.
I realized, oh yeah, this is something. You know, I've, I've seen a little bit, and this is something where people's tastes are changing. So, you know, I lobbied to get myself on the account and, um, you know, working, working on the Vitamin Water stuff was basically my education. How to sort of scale and, and grow a cPG business. And um, you know, luckily after that sold, uh, Nick and I went to our, uh, our first trade show together. It was in Boston in 2008. It was Expo East, you know, and we kind of like, you know, had an idea like, Hey, maybe there's more people who need this type of, you know, um, representation right need.
Brett Gilliland: Right.
Ryan Lewendon: Like a brand first representation or a founder first representation. And we walked that show and we were like, Hey, we're lawyers. Does anyone need a lawyer? And uh, people were like, well, I'm not getting sued right now. And we'd be like, no, no, no.
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