The IPOX® Watch: The Vita Coco Company (COCO US)
Company Description
Founded in 2003 as All Market Inc, the Vita Coco Company, Inc is a beverage company, headquartered in New York, NY. The Vita Coco Company develops, markets, and distributes various coconut water products, under Vita Coco, plant-based energy drinks and protein-infused fitness drinks (under the brand name Runa and PWR LIFT), and packaged water (under the brand Ever & Ever). The company is also one of the largest suppliers of private label coconut water.
Business Model
The Vita Coco Company generates revenue from the sale of branded Vita Coco Coconut Water, private label product offerings and all other products.
IPO HISTORY
On 10/21/2021, The Vita Coco Company, Inc began trading on the Nasdaq Global Select led by Goldman Sachs. The packaged coconut water company offered 11.5 million shares (including 9 million shares from the selling stockholders), at $15.00 per share, below its expected price range ($18-$21). Vita Coco was valued at ca. $832 million at offer. The shares opened slightly above IPO price at $15.37 but closed the first day at $13.52 (-9.87%).
The Vita Coco Company, Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 06/20/2023 and has declined -3.12% since addition to the indexes.
