The move completes the transaction that began in 2009, when Coca-Cola’s Venturing and Emerging Brands (VEB) business unit first invested in Zico. In 2012, the Company purchased a majority stake in the brand, and earlier this year, the brand took its place on the signature red trucks to be distributed throughout the US and Canada.
“When we made our investment in ZICO, we did so because we saw it as a burgeoning premium brand with the potential to be a significant leader in a high growth category,” said Deryck van Rensburg, president and general manager, venturing & emerging brands, North America. “Over the past four years, we have watched the coconut water category see an impressive spike in revenue and household penetration and Zico solidify its position as one of the leading brands in this category. With our acquisition, we plan to innovate in all aspects of the consumer experience and increase both velocity and distribution to position Zico for even more growth. This announcement is the sign of a continued beginning for the brand, with more resources, support and cachet to come.”
As part of the transaction, G Scott Uzzell will become president and take over day-to-day management of Zico Beverages.
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