ATLANTA -- Coca-Cola Co. has acquired all outstanding shares of Zico Beverages LLC (El Segundo, CA). The move completes a transaction that began in 2009 when the soft drink giant's Venturing and Emerging Brands business unit first invested in Zico.
In 2012, the company purchased a majority stake in the Zico brand. Earlier this year, the coconut waters took their place on Coca-Cola trucks for distribution throughout the U.S. and Canada.
"Over the past four years we have watched the coconut water category see an impressive spike in revenue and household penetration and Zico solidify its position as one of the leading brands in this category," said Deryck van Rensburg, president and general manager for Coca-Cola's Venturing & Emerging Brands.
G. Scott Uzzell will become president of Zico Beverages He has served as Zico's chief commercial officer and executive vice-president of sales for the past year, following several leadership roles with Coca-Cola.
Mark Rampolla, Zico's founder and chief executive, will remain as a nonexecutive advisor to support the transition and long-term strategic initiatives.