PepsiCo is allegedly in talks with coconut water Vita Coco’s shareholders to discuss an acquisition deal. Belgian families de Spoelberch and de Mévius, who also own beer giant AB InBev, own nearly half of Vita Coco’s shares.
1 billion dollars
Vita Coco’s shareholders have been looking for a buyer since January, with PepsiCo and Coca-Cola often mentioned as possible partners. Apparently, the former is now willing to bid for the brand, even though it will stay below the targeted one billion dollar (900 million euro).
The American drinks manufacturer already has its own coconut water brand, One, which owns about 20 % of the market alongside Coca-Cola’s Zico brand. Vita Coco would turn PepsiCo into the market leader, because Vita Coco has a 60 % market share in the United States alone.
Not only Verlinvest is a major shareholder, but Reignwood (which handles the Asian distribution) is as well. It joined in 2014, when the company was valued at 664 million dollars (600 million euro). Several American celebrities are also a shareholder, because in return for their marketing prowess, they were given a 10 % stake in the company.
Vita Coco is one of the drinks Verlinvest recently moved to a separate holding, including Sambazon (based on the acai berry) and Hint (fruit-flavoured water).
