Vita Coco Inc. Collaborates With Big Alcohol Brands On A Number Of Canned Cocktail Beverages

Vita Coco

In 2023, Vita Coco Inc. (NASDAQ:COCO) spiked with Captain Morgan is anticipated to hit store shelves. The latest addition in the trend of canned cocktails, which combine hard liquor with soft drinks and other liquids, is a partnership between Vita Coco Co. Inc. (NASDAQ:COCO) and Diageo. Early 2023 is the anticipated release date for Vita Coco Inc. (NASDAQ:COCO) Spiked with Captain Morgan, which will come in three flavors, piña colada, strawberry daiquiri, and lime mojito. Recently, Coca-Cola Co. has announced a number of initiatives in the canned cocktail market.

The company joined forces with Brown-Forman Corp. to create Canned Jack & Coke last month. In January, Coke and Molson-Coors Beverage Co. expanded their collaboration for Topo Chico Hard Seltzer to include Simply Spiked juices. Additionally, Coca-Cola and Constellation Brands Inc. collaborated on an adult version of Fresca in January.

Last year, rival PepsiCo Inc. teamed up with Boston Beer Co. for Hard Mtn Dew. There are also some privately held competitors, like White Claw, the market leader in hard seltzer, and High Noon, which also offers canned wines in addition to hard seltzer cocktails. The rise in demands of coconut water in the USA has made Vita Coco Inc. (NASDAQ:COCO) a go to drink recently.

The co-chief executive of the company, Michael Kirban said concerning the most recent earnings call in May. According to FactSet, “For starters, coconut beverages are part of the changing taste of America, driven in large part by demand from multicultural and specifically Hispanic and Asian American consumers,” He concluded.

Kirban presented statistics demonstrating that the U.S. market for beverages containing coconut is worth $2.8 billion, outpacing the markets for beverages including almonds and oats. With real-time news and analysis from MarketWatch, you can better understand how contemporary global business practices, market dynamics, economic policies, and more affect you. The share price of Vita Coco Inc. (NASDAQ: COCO) has increased by 14.7 percent in the last three months. Diageo’s quarterly performance is down 17.7%%. Over the past three months, the benchmark S&P 500 index has decreased 15.6 percent.

More Recent News on Vita Coco

Recently, “NEW YORK, June 09, 2022 (GLOBE NEWSWIRE) — The Vita Coco Company, Inc. (NASDAQ:COCO) (“Vita Coco” or the “Company”), a leading high-growth platform of better-for-you beverage brands, [on June 9 2022] announced the appointment of Aishetu Fatima Dozie to the Company’s board of directors following her election at the Company’s annual meeting of stockholders held on June 1, 2022. Ms. Dozie brings more than 20 years of significant investment and executive entrepreneurial experience to the Company’s board. The other directors standing for re-election, Martin Roper and John Zupo, were also elected at the annual meeting of stockholders and will continue serving as board members.

“I am excited that Aisha has joined our board. We will benefit not only from her nearly two-decade career in finance, but also from her experience building a successful business around the idea that a company can have a purpose and a passion,” said Company Co-Founder and Executive Chairman Mike Kirban.

Upon her appointment, Ms. Dozie said, “Mike and the team at The Vita Coco Company are building a beverage company for the future, where return on investment is measured hand in hand with return on impact. I am excited to join the Company’s board and look forward to using my expertise to help shape the Company’s journey.”

The Vita Coco Company, Inc. was co-founded in 2004 by Michael Kirban and Ira Liran. Pioneers in the functional beverage category, The Vita Coco Company’s brands include the leading coconut water, Vita Coco; clean energy drink, Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. With its ability to harness the power of people and plants, and balance purpose and profit, The Vita Coco Company has created a modern beverage platform built for current and future generations. (GlobeNewsWire)”

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About the author: Adewumi is an expert financial writer and crypto enthusiast with more than 2 years' experience in writing crypto news and investment analysis. When not writing or reading about crypto and finance, Adewumi spends his time watching football and visiting museums and art galleries.