Beyonce Invests in Watermelon Water Sports Drink Company

Beyonce
Dimitrios Kambouris/Getty Images

Beyonce attends the "Manus x Machina: Fashion In An Age Of Technology" Costume Institute Gala at Metropolitan Museum of Art on May 2, 2016 in New York City. 

Singer, actress, media mogul, record label boss, clothing line owner -- and now investor. Beyonce, on the heels of the release of her sixth studio album Lemonade, has invested in WTRMLN WTR, a three-year-old company that specializes in cold-pressed watermelon-based sports drinks, according to a press release. Jody Levy, co-founder and creative director of WTRMLN's parent company World Waters LLC, told Bloomberg that Beyonce's investment makes her a "meaningful" shareholder.

WTRMLN's appeal for Beyonce came from the company's health-conscious approach, Levy says, which makes its water from unused watermelons and "a drop of organic lemon juice," with no other additives.

"I invested in WTRMLN WTR because it's the future of clean, natural hydration; as partners, we share a simple mission to deliver accessible wellness to the world," Beyoncé said in a statement. "This is more than an investment in a brand, it's an investment in female leaders, fitness, American farmers and the health of people and our planet."

The investment is the latest business move in what's already been an extremely busy year for the singer. In February, reports surfaced of an executive overhaul at her label/management company Parkwood Entertainment, with longtime general manager Lee Anne Callahan-Luongo leaving after five years and former JP Morgan Chase exec Steve Pamon coming on board as Chief Operating Officer. In the ensuing months, she's begun pushing Parkwood's new signees -- Chloe and Halle, and Sophie Beem -- as well as launching an activewear brand called Ivy Park, releasing both the "visual album" Lemonade and its one-hour HBO special of the same name simultaneously the night of April 23, and kicking off her Formation World Tour, which began April 27. 

And she's already begun incorporating the new drink into her other business endeavors; Bloomberg reports that WTRMLN WTR has been available at Formation venues since the tour's start, and was also available at her Ivy Park pop-up stores around the country earlier this year. "Beyonce's partnership and investment brings energy and purpose to our mission to help educate consumers about clean, healthy hydration for active lives," Levy added in the statement.

The investment also represents a new business model for Beyonce, who previously favored endorsement deals with brands such as Pepsi. But it's not exactly new for the entertainment space. In 2010, Madonna splashed $1.5 million in cash to back Coco Vita coconut water, whose investors also included her manager Guy Oseary as well as Red Hot Chili Peppers frontman Anthony Kiedis. And 50 Cent's investment in Vitamin Water in the mid-2000s paid off big time when Coca-Cola purchased its parent company Glaceau in 2007, netting the rapper somewhere in the neighborhood of $100 million, according to multiple reports.

Meanwhile, Beyonce's Formation tour marches on, wrapping up its U.S. dates June 14 before kicking off its European leg June 28.

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