January 31, 2010 – New York, NY – Vita Coco, the nation’s best-selling coconut water and one of the fastest-growing beverage brands in the U.S., today announced a group of several high profile new investors into the five-year old, New York-based beverage company. With a 60% share of the coconut water market and annual revenues more than doubling in 2009 from the previous year, Vita Coco is headed to record sales in 2010 and beyond. It was officially confirmed today by Vita Coco CEO and co-founder Michael Kirban that entertainment manager Guy Oseary and his client Madonna invested in Vita Coco. Oseary also brought on board Matthew McConaughey, Demi Moore and Red Hot Chili Peppers frontman Anthony Kiedis as additional Vita Coco investors.
“This group of investors chose to invest because they’ve all been brand loyalists, drink Vita Coco regularly and believe in the growth potential of the Vita Coco brand,” stated Kirban.
Fresh coconut water, extracted from young green coconuts (not brown ones) has grown increasingly popular as both a lifestyle beverage and a natural sports drink. “Each of these investors not only validates the Vita Coco brand, but the category of natural-functional beverages as well,” added Kirban.
Vita Coco is currently sold at over 14,000 retailers nationwide, including Whole Foods Market, Safeway, Giant Eagle, Ralph’s, Shaw’s, Stop&Shop/Giant, HEB, Hannaford Supermarkets, ACME and Shop Rite, as well as on Amazon.com
Early next month, Vita Coco will be available for sale in over 1,300 GNC stores nationwide. “GNC’s motto is ‘Live Well,’ and as the leading vitamin, supplement and sports nutrition chain, I can’t think of a finer retail partner as the Vita Coco brand grows nationally,” notes Kirban. “GNC’s product education programs will ensure that new consumers learn about the healthful benefits of Vita Coco.”
About Vita Coco
Vita Coco—all-natural, 100% pure coconut water—has for many consumers become the best alternative to sports drinks and enhanced bottled waters. One reason: an 11.2-ounce/330-ml serving size of Vita Coco contains almost 700 mg of potassium, approximately 15 times more than the average sports drink in a similar serving size.
Vita Coco was founded by longtime friends Michael Kirban and Ira Liran in 2004 and is based in New York City. The Vita Coco brand is a leader in the natural-functional beverage category and is the #1-selling coconut water in the U.S. with over 60% market share (source: Merrill Lynch/Bank of America).
Of all the coconut water brands presently sold in the U.S. market, Vita Coco is the only brand with its own production facility, allowing Vita Coco to directly manage quality control, new flavor development and special packaging.
Vita Coco is currently sold at over 14,000 retailers nationwide, including Whole Foods Market, Safeway, Giant Eagle, Ralph’s, Shaw’s, Stop&Shop/Giant, HEB, Hannaford Supermarkets, ACME and Shop Rite, as well as on Amazon.com.