PepsiCo reportedly in talks to acquire Vita Coco
Global beverage firm PepsiCo is reportedly holding talks to acquire All Market for nearly $1bn.
All Market owns the Vita Coco brand, which is sold in 30 countries.
CNBC reported it is not necessary the negotiations will lead to a deal and several parties have expressed their interest in the company.
If it materialises, this deal will help PepsiCo expand its offerings as it struggles with slow sales as consumers are shifting their preferences from sugary drinks to healthier options.
In 2007, Verlinvest acquired a stake in All Market.
All Market also boasts of celebrity investors including singer Madonna and actors McConaughey and Demi Moore.
It divested a 25% stake to T.C. Pharma, which owns Red Bull China, in 2014. This transaction took the All Market’s valuation to around $665m.
PepsiCo owns Quaker Oats oatmeal, Frito-Lay chips, energy drink Gatorade, and orange juice Tropicana.
Last year, PepsiCo agreed to acquire probiotic drinks producer KeVita.
Ziko, a brand owned by Coca-Cola, is another leading player in the coconut water market.