Double-digit volume growth for its flagship coconut water line propelled The Vita Coco Company’s Q1 2023 net sales +14% year-over-year to around $110 million, according to the company’s earnings report this week.
After more than a decade spent establishing the category in the U.S. in the shadow of Coca-Cola, PepsiCo and others, in 2022 Vita Coco stands alone as the definitive coconut water leader.
Net sales of Vita Coco’s coconut waters were up 21% during the quarter and have increased 19% over the first half of 2022, co-founder and executive chairman Mike Kirban said during a conference call this morning, outpacing the category (+12%).
The Vita Coco Company reported net sales growth of 28% to $96 million in its Q1 2022 earning report this week, as its core coconut water line has largely withstood the widespread supply disruptions impacting the beverage industry.
The Vita Coco Company’s co-CEOs Mike Kirban and Martin Roper are splitting their titles, the company announced today, as Kirban will assume the title of Executive Chairman effective immediately. Roper will continue to serve as CEO, overseeing day-to-day operations.
Analysts at Goldman Sachs Equity Research are feeling optimistic about the long term growth potential for Vita Coco following a meeting last week with the company’s executive management. According to a report issued by Goldman last week, the New York-based brand may see strong momentum in 2022 for its recently expanded innovation portfolio.
Vita Coco is officially going public. The New York-based coconut water maker filed on Monday with the U.S. Securities and Exchange Commission for an IPO seeking to raise up to $100 million. The company intends to list on the NASDAQ under the ticker symbol COCO.
Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management released a document claiming that the company had misrepresented its success. What can other companies learn from this about going public?
All Market Inc., the parent company of Vita Coco, announced today that it has converted to a Public Benefit Corporation (PBC) structure, signalling an embrace of ethical, sustainable and better-for-the-planet business practices. According to the company, the PBC model provides All Market with a framework for continuing to expand its charitable initiatives.
Amid a wave of food and beverage companies going public, Vita Coco parent All Market Inc. is the latest to receive buzz about a potential IPO. Earlier this month, Bloomberg reported that the company is potentially planning to list shares as early as the third quarter with a potential valuation of more than $2 billion.
Vita Coco parent company All Market Inc. (AMI) is planning to go public later this year with a potential valuation of $2 billion, according to media reports. According to Bloomberg, AMI — which owns the Vita Coco, Runa and Ever & Ever brands — could list shares by the third quarter, however plans are not finalized and are subject to change.
The Coca-Cola Company announced today it will discontinue coconut water brand Zico by the end of the year as part of a long term project to drop underperforming product lines from its portfolio. The move comes after months of declining sales for the brand, which Coke acquired in 2013.
In the midst of a pandemic, on top of a worrying slump in the coconut water category overall, Vita Coco appears to have found its groove.
Vita Coco Boosted blends coconut water, coconut cream, coconut MCT oil, B vitamins and tea extract to give consumers a new, modern way to get their fix of all-day energy, without the jitters or crash.
