The Vita Coco Company, which makes Vita Coco coconut water and other ready-to-drink beverages, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
The Vita Coco Company states that it is a leading fast-growing, plant-based functional hydration platform, which pioneered packaged coconut water in 2004. The company's portfolio is led by Vita Coco, which is the leader in the global coconut water category with additional coconut oil and coconut milk offerings, and also includes plant-based energy drink Runa, sustainably packaged water Ever & Ever, and the recently launched, flavored protein-infused water PWR LIFT.
The New York, NY-based company was founded in 2004 and booked $334 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol COCO. The Vita Coco Company filed confidentially on July 16, 2021. Goldman Sachs, BofA Securities, Credit Suisse, Evercore ISI, Wells Fargo Securities, Guggenheim Securities, Piper Sandler, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
