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PepsiCo linked to Vita Coco buy

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PepsiCo has declined to comment on a report it is preparing a takeover bid for coconut water producer Vita Coco.

Vita Cocos owners have reportedly valued All Market at US$1bn

Vita Coco's owners have reportedly valued All Market at US$1bn

Reuters said last week that PepsiCo is in talks with Vita Coco owner All Market to purchase the company. An acquisition would hand PepsiCo control of the world's biggest-selling coconut water brand, with a 26% share of the US$2.5bn category, according to Reuters.

The report, citing anonymous sources, said that PepsiCo has offered less than the US$1bn valuation of All Market by the company's owners and that the negotiations may not result in a deal.

When contacted by just-drinks today, PepsiCo said it did not comment on rumour or speculation, while a spokesperson for Vita Coco also declined to comment.

Vita Coco has already denied reports it was up for sale this year. In January, the company said there was no truth to articles that All Market was exploring a deal.

Launched in the US in 2004, Vita Coco is one of Dr Pepper Snapple Group's so-called Allied Brands - a portfolio of partner brands that the soft drinks company uses to gain share in emerging growth categories. Last year, DPSG agreed to purchase its allied brand partner, Bai Brands, in a deal worth US$1.7bn.


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