Zico Coconut Water Returns to Founder

Jan. 14, 2021
Coca-Cola has sold Zico coconut water to an investment fund co-founded by the man who sold it to Coca-Cola in the first place.

Coca-Cola has sold Zico coconut water to an investment fund co-founded by the man who sold it to Coca-Cola in the first place.

PowerPlant Ventures, a venture capital firm co-founded by Mark Rampolla, has bought Zico for an undisclosed sum. Rampolla created Zico in 2004, after discovering coconut water during a stint with the Peace Corps, according to the Wall Street Journal. He sold a minority stake in the brand to Coca-Cola in 2009, and the rest in 2013.

But during the pandemic, Coca-Cola was among the major processors that trimmed marginal SKUs to concentrate on the more mainstream products that were suddenly in demand. Zico, a distant second in coconut water behind Vita Coco, got the ax.

PowerPlant Ventures has invested in a variety of food companies, including Beyond Meat and Eat JUST Inc., which produce plant-analogue meat and eggs, respectively.

Sponsored Recommendations

Learn About: Micro Motion™ 4700 Config I/O Coriolis Transmitter

An Advanced Transmitter that Expands Connectivity

Micro Motion™ G-Series Coriolis Flow and Density Meter

Micro Motion G-Series: market-leading compact design featuring advanced process diagnostic capability.

Embracing Sustainability using Advanced Measurement Instrumentation

A practical guide to greeningyour brewing operationsusing advanced measurementinstrumentation.

Get Hands-On Training in Emerson's Interactive Plant Environment

Enhance the training experience and increase retention by training hands-on in Emerson's Interactive Plant Environment. Build skills here so you have them where and when it matters...