- Coca-Cola announced Friday that it has acquired the coconut water company Zico Beverages, though terms for the deal were not publicly disclosed.
- The company has held a majority stake in Zico since 2012.
- G. Scott Uzzell, the chief commercial officer and executive vice president of sales for Zico, will take over as president for the brand.
Coca-Cola claims to have seen revenue for coconut water double on an annual basis since 2004, so it's easy to see why the beverage giant wants to own the whole Zico pie. Coke's claim is in line with previous numbers we've seen, showing that demand for coconut water may even exceed the supply available from the world's existing coconut trees. If that's true, Coke may have decided to buy before the Zico's price went up.