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Zico was sold to Coca-Cola in 2013 at the height of the coconut water craze, but now its founder is buying it back

Zico was sold to Coca-Cola in 2013 at the height of the coconut water craze, but now its founder is buying it back


Zico




Zico coconut water's founder is spearheading an effort to keep the brand alive after Coca-Cola initially laid out plans to eliminate the brand last October.




Mark Rampolla, who founded Zico in 2004 and is now a managing director at PowerPlant Ventures, told Business Insider that Coca-Cola failed to provide strong leadership and expand key areas, such as its mainstay coconut water.




As part of Zico's sale to PowerPlant Rampolla said a new executive team will lead the business. Ultimately, options including another sale or an IPO are on the table, Rampolla said.




Visit Business Insider's homepage for more stories.


In less than a decade, Zico coconut water went from one of the fastest-growing upstart beverage brands to one of hundreds Coca-Cola decided to relegate to the history books.At least, that was its trajectory until Mark Rampolla read about the beverage giant's reported plans to kick the brand as part of a culling of its portfolio last October."I immediately reached out to my contacts at Coke and asked them if it was true, and I let them know that we as PowerPlant might be interested," he told Insider in an interview. Read more: Serial food entrepreneur Mark Ramadan secured a $340 million deal with Mondelez for chocolate brand Hu. Here's how he prepped the brand for acquisition in just over a year.
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