US: Coca-Cola Co takes control of Zico coconut water
The Coca-Cola Co now has majority control of Zico
The Coca-Cola Co has bought a further - unspecified - stake in Zico Beverages, giving it majority control of the California-based company.
The soft drinks giant confirmed the purchase, through Coca-Cola North America's Venturing and Emerging Brands (VEB) unit, today (12 April), but declined to give specific figures covering the size of stake bought or the amount paid.
"We’ve acquired an additional stake in Zico," said Coca-Cola. "The additional stake validates the broad potential we’ve known Zico had from the outset and is the natural progression for successful brands in which VEB has an interest.”
Coca-Cola acquired a minority 20% stake in Zico, which produces the coconut water brand of the same name, in September 2009.
In December 2010, PepsiCo became the majority owner of rival coconut water seller O.N.E. when it increased its stake in the company. PepsiCo also owns the Brazilian coconut water company Amacoco.
Coca-Cola said the further investment would allow the two companies to expand the Zico brand and the coconut water market.
Founded by Mark Rampolla in 2004, Zico tripled sales between 2010 and 2011, according to the website of its advertising agency, Ignited.
In 2011, global soft drinks sales reached 609bn litres, up by 4% over the previous year and continuing a steady upwards trend. At the same time, global consumption continues to evolve, both in terms o...
- Experienced hands hold firm at CCEP - Analysis
- Why sports drinks fail to ride the Olympic wave
- What do US wholesalers think of spirits trends?
- How the craft economy is loosening alcohol laws
- It isn't just men who like beer - Comment
- Diageo Australia's commercial head to step down
- Luxury and e-commerce a "natural fit" - Diageo
- "We're not complacent about Brexit" - Diageo
- Diageo merges US, Canada spirits units
- Stoli Group CEO Rob Cullins to step down
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends