The terms of the transaction were not disclosed. This represents a second round of investment in One by PepsiCo and Catterton Partners.
“We’re very excited to deepen our relationship with PepsiCo and Catterton Partners,” said One founder and CEO, Rodrigo Veloso. “With demand, supply, distribution, consumer education and the capital to fuel them all lining up, we expect 2011 to be the year that coconut water goes mass market.”
Supply had been a limiting factor for coconut water producers in 2010, but One has successfully addressed the issue by developing strong partnerships with three of the largest coconut processors in the world, based in the Philippines and Indonesia.
With the investment, distribution of the full line of One coconut water-based beverages – including One Coconut Water, One Active and One Kids – will extend beyond the current predominantly warehouse distribution to include expanded DSD distribution through PepsiCo’s bottling arm, Pepsi Beverages Company, in 2011.
Source: PepsiCo
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