Coca-Cola sells Zico coconut water back to brand founder’s fund

The Coca-Cola Co. has sold its Zico coconut water brand to PowerPlant Ventures, a fund co-led by Zico founder Mark Rampolla. Terms of the deal weren’t disclosed, but the sale comes as Atlanta-based Coca-Cola (NYSE: KO) has been shedding its portfolio to focus on more profitable brands. “We are incredibly proud of the results we achieved growing Zico when it was a part of the Coca-Cola family of brands and wish PowerPlant Ventures continued success as they take the Zico brand on a new journey,”…

The Coca-Cola Co. has sold its Zico coconut water brand to PowerPlant Ventures, a fund co-led by Zico founder Mark Rampolla. Terms of the deal weren’t disclosed, but the sale comes as Atlanta-based Coca-Cola (NYSE: KO) has been shedding its portfolio to focus on more profitable brands. “We are incredibly proud of the results we achieved growing Zico when it was a part of the Coca-Cola family of brands and wish PowerPlant Ventures continued success as they take the Zico brand on a new journey,”…

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