Vita Coco acquires Thai coconut water producer Copra

USA – Vita Coco has acquired Thai coconut water producer Copra in a strategic move to strengthen its position in the global coconut water market and expand into the fast-growing super-premium segment. 

The transaction, which closed on July 22, 2026, includes Copra’s production facility in Thailand and its sourcing capabilities for Nam Hom coconuts, a premium variety recognised for its sweet, aromatic flavour and distinctive light pink appearance. 

Copra operates in the super-premium cold-chain coconut water category using an extract-and-fill-on-site production model. In addition to its branded products, the company has built a significant private-label business serving customers in the segment. 

According to Vita Coco, Copra has recorded a compound annual growth rate of 48% in net sales over the past three years within the cold-chain coconut water category. The company expects full-year 2026 net sales to exceed US$100 million. 

The acquisition includes an upfront payment of US$175 million, subject to customary closing adjustments, alongside an earnout linked to Copra’s financial performance in 2028. The earnout has a minimum value of US$45 million and can reach up to US$100 million.  

Vita Coco financed 80% of the initial purchase price with cash on hand, while the remaining balance was paid in common stock. 

Michael Kirban, Co-founder and Executive Chairman of The Vita Coco Company, said the acquisition strengthens the company’s capabilities across the coconut water category. 

“Copra brings specialised capabilities, deep sourcing expertise and a super-premium offering that can help us serve more consumers, and expand our market share while continuing to help shape and lead the category’s continued global growth,” Kirban said. 

Vita Coco said the acquisition will broaden its addressable market while reinforcing its supply chain through Copra’s Thailand-based operations and access to Nam Hom coconuts.  

The company plans to expand Copra’s production capacity, improve operational efficiency, support existing customer demand and develop new commercial relationships. 

The company also intends to invest in growing Copra’s branded business, which it believes offers significant long-term growth potential. Although Copra’s current sales are concentrated in the Americas, Vita Coco sees opportunities to expand its international presence. 

Chief Executive Officer Martin Roper said the acquisition complements the company’s existing operations and supports future growth. 

“We believe it is a perfect add-on to our coconut water capabilities, expands our total addressable market, strengthens our participation in coconut water, and gives us another way to help shape the category’s continued growth,” Roper said. 

Vita Coco expects the acquisition to become accretive to adjusted EBITDA margins following integration.  

Earlier this year, the company raised its 2026 guidance, forecasting net sales of US$720 million to US$735 million and adjusted EBITDA of US$132 million to US$138 million. 

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.