Coconut water and açaí juice maker Zola has been sold to a Connecticut-based private equity firm.
Zola’s acquisition by KarpReilly will help accelerate future growth by adding the financial resources to support rapid scaling of the business through investment in people, innovation and brand. Zola, which also produces a line of dark chocolate-covered fruits, will retain its existing management structure in order “to execute a long-term growth strategy”.
Zola founder and CEO Chris Cuvelier said: “KarpReilly is the perfect partner for Zola. Their long term approach and track record for growing great brands will help Zola reach its full potential.” The sale will enable Zola to accelerate growth by adding the financial resources to support rapid scaling of the business by investing in people, innovation and the brand.”
The company recently announced new distribution and is continuously building out its footprint in natural food and conventional grocery stores across the US.
“Our expanding distribution and soon-to-be-announced new products, coupled with this new partnership, will give us the opportunity to reach more consumers with our great tasting, better-for-you products,” said Cuvelier.
KarpReilly co-founder Allan Karp said: “We like to invest in great brands and passionate people. Chris and the Zola team have done a fantastic job creating an amazing brand and a loyal following leveraging their great tasting products and the unique Fruits of the World brand platform. The team has some great ideas in the pipeline and we look forward to supporting them as they take the company to the next level.”
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