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Vita Coco has acquired super-premium Thai coconut water producer Copra in a deal that will expand its presence across the coconut water category and give it access to a fast-growing premium segment.

The acquisition, which closed on 22 July 2026, includes Copra’s production facility in Thailand and its sourcing capabilities for Nam Hom coconuts, a variety known for its sweet, aromatic flavour and distinctive, slightly pink appearance.

Copra operates in the super-premium, cold-chain coconut water segment, using an extract-and-fill-on-site model. The company also has an emerging branded business and a significant private label operation.

According to Vita Coco, Copra’s net sales have grown at a compound annual growth rate of 48% over the past three years in the cold-chain coconut water segment. Copra expects full-year 2026 net sales to exceed $100 million.

The transaction comprises $175 million in upfront consideration, subject to customary closing adjustments, with an additional earnout payment linked to Copra’s 2028 financial performance. The earnout has a floor of $45 million and a cap of $100 million.

The initial purchase price was funded through 80% cash on hand, with the remainder paid in Vita Coco common stock.

Michael Kirban, co-founder and executive chairman of The Vita Coco Company, said: “Copra brings specialised capabilities, deep sourcing expertise and a super-premium offering that can help us serve more consumers, and expand our market share while continuing to help shape and lead the category’s continued global growth."

The acquisition is expected to broaden Vita Coco’s addressable market while strengthening its supply chain capabilities through Copra’s Thailand-based operations and access to Nam Hom coconuts.

Vita Coco said it plans to expand Copra’s capacity, improve operational efficiency, support existing customer demand and develop new customer relationships. It also intends to invest in building Copra’s branded business, which the company believes has significant growth potential.

Copra’s sales are currently concentrated in the Americas, with Vita Coco identifying opportunities to expand the business internationally and grow its branded presence.

Martin Roper, chief executive officer of The Vita Coco Company, said: “We believe it is a perfect add-on to our coconut water capabilities, expands our total addressable market, strengthens our participation in coconut water, and gives us another way to help shape the category’s continued growth."

Vita Coco expects the acquisition to be accretive to its adjusted EBITDA margins once the business is fully integrated.

Evercore acted as financial advisor to Vita Coco, with Ballard Spahr LLP serving as its legal advisor. Whipstitch Capital acted as financial advisor to Copra, while Cooley LLP served as its legal advisor.