Vita Coco Buys Copra, Enters Premium Coconut Water Segment
The coconut-water company paid $175 million upfront for the fast-growing business.
The Vita Coco Company (COCO) acquired Copra, entering the super-premium, cold-chain Thai Nam Hom coconut-water segment for the first time.
The deal expanded Vita Coco beyond the coconut-water segments where it had previously competed, adding a new growth platform with distinct sourcing and distribution requirements.
Copra recorded a 48% net-sales compound annual growth rate over the past three years. The business expects full-year 2026 net sales of more than $100 million.
Vita Coco also gained Copra’s Thailand factory, Thai Nam Hom sourcing network and on-site extraction and filling capabilities, materially broadening the company’s supply chain.
Management expects Copra to increase Vita Coco’s adjusted EBITDA margin after the business is fully integrated, establishing a margin-accretion outlook that was absent from the prior three quarterly disclosures.
Vita Coco funded 80% of the upfront purchase price in cash and paid the balance in stock. The agreement also included a performance-based earnout of $45 million to $100 million, payable in 2029 and tied to Copra’s 2028 results, linking the deal’s final cost to the acquired business’s performance.