ATLANTA—The Coca-Cola Company has acquired ZICO Beverages, LLC, and will increase capabilities for ZICO, including marketing, selling, manufacturing, innovation and distribution opportunities.
The transaction 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. Earlier this year, the brand was distributed via Coca-Cola throughout the United States and Canada.
As part of the transaction, G. Scott Uzzell will become president of ZICO Beverages; former CEO and founder Mark Rampolla will remain as a non-executive advisor to ZICO supporting the transition and long-term strategic initiatives.
“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," said Deryck van Rensburg, president and general manager, VEB, Coca-Cola North America. "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."
The coconut water category has seen impressive sales growth since its inception, nearly doubling its revenue every year since 2004. In the period since Coca-Cola’s initial investment in ZICO, the brand has expanded its distribution footprint from six markets to national presence.