Food Business News - January 19, 2021 - 9

Coca-Cola sells Zico coconut
water brand back to founder

Coca-Cola recently
announced plans to retire
Zico and other beverage
brands as part of an
ongoing portfolio refresh.

LOS ANGELES - A growth equity fund is
resuscitating the Zico coconut water
brand months after the Coca-Cola Co.
revealed plans to discontinue it. PowerPlant Ventures, co-founded and co-led
by Zico founder Mark Rampolla, has
acquired the business from Coca-Cola
for an undisclosed sum.

Founded in 2004, Zico was one of the
three original coconut water brands, along
with ONE and Vita Coco. Shortly after
PepsiCo, Inc. invested in ONE, Coca-Cola
in 2009 joined a group of entrepreneurs,
distributors and celebrities in acquiring
a 20% minority stake in Zico. In 2012,
Coca-Cola bought a majority stake in the
brand and began distributing the company's products along with its signature
beverages in the United States and Canada. A year later, Coca-Cola purchased the
outstanding ownership stake in Zico.
This past October, Coca-Cola announced plans to retire Zico, along with
several other beverage brands, as part of
an ongoing portfolio refresh.
" We are incredibly proud of the
results we achieved growing Zico when
it was a part of the Coca-Cola family of
brands and wish PowerPlant Ventures
continued success as they take the Zico

©JULIAAP - STOCK.ADOBE.COM

Between-meal snacking
occasions on the rise

CHICAGO - A new report from The NPD
Group shows a rise in snacking in recent
years. Americans added 25 between-meal
snacking occasions per capita over the past
five years, NPD found, with the number of
snacking occasions per capita increasing
to 530 in 2020 from 505 in 2015.
The consumption of snack foods at

January 19, 2021

meals grew from 21% of eatings in 2010 to
26% in 2020, according to the report from
the market research firm.
Snack food consumption follows
a daily pattern in most households.
Consumers tend to reach for better-foryou snacks like fruit and yogurt in the
morning, savory snacks like potato chips
and tortilla chips at lunch, and more
sweets like chocolate candy and cookies
in the evening. Taste, satiety, " being a
favorite " and " easy to eat " were among
the top motivators for choosing snack
foods, NPD found, with health-driven
motivations giving way to satiety as the
day progresses.
Already on the rise before 2020,
snack food consumption accelerated
during the COVID-19 pandemic. Thirty-seven percent of consumers said having
sufficient snack foods on hand during the
pandemic was important. Consumers who

brand on a new journey, " said Manolo
Arroyo, global chief marketing officer of
Coca-Cola.
Under PowerPlant Ventures' ownership, the company will be renamed Zico
Rising, led by industry veterans Thomas
Hicks as chief executive officer and Alan
George as chief financial officer. The pair
previously worked together on Naked
Juice and Monster Energy's natural
division.
" I respect the decision of Coca-Cola to
focus on other elements of their beverage
business, " Mr. Rampolla said. " I still have
a lot of love for Zico, and I know consumers do, too. We are thrilled to acquire the
company and thankful for the support
from Coca-Cola. "
The move mirrors a similar sale last
year, when the Hershey Co. sold the Krave
jerky brand to its founder Jon Sebastiani's
Sonoma Brands. FBN

Consumers tend to
reach for better-foryou snacks like fruit
and yogurt in the
morning.

©ALEXIALEX - STOCK.ADOBE.COM

ZICO BEVERAGES

WIKIPEDIA

said it was important to have snack foods
on hand bought salty snacks and frozen
sweets more than other foods.
Consumers who had more snack
packages in the home consumed those
snacks more frequently. As an example,
consumers with five or more packages
of crackers or salty snacks in their home
consumed those items at higher rates than
those with fewer packages in their home,
the report said.
" America is a nation of snackers,
and we're no longer as averse to snacking as we once were, " said Darren Seifer,
food and beverage industry analyst at
The NPD Group. " Instead, snacking is
viewed as a way to have a quick bite in
between meals or as a convenient meal
side. Snacking is woven into the fabric of
our daily lives, and this way of thinking
provides endless opportunities for food
and snack marketers. " FBN
Food Business News

9


http://STOCK.ADOBE.COM

Food Business News - January 19, 2021

Table of Contents for the Digital Edition of Food Business News - January 19, 2021

Food Business News - January 19, 2021 - 1
Food Business News - January 19, 2021 - 1
Food Business News - January 19, 2021 - 2
Food Business News - January 19, 2021 - 3
Food Business News - January 19, 2021 - 4
Food Business News - January 19, 2021 - 5
Food Business News - January 19, 2021 - 6
Food Business News - January 19, 2021 - 7
Food Business News - January 19, 2021 - 8
Food Business News - January 19, 2021 - 9
Food Business News - January 19, 2021 - 10
Food Business News - January 19, 2021 - 11
Food Business News - January 19, 2021 - 12
Food Business News - January 19, 2021 - 13
Food Business News - January 19, 2021 - 14
Food Business News - January 19, 2021 - 15
Food Business News - January 19, 2021 - 16
Food Business News - January 19, 2021 - 17
Food Business News - January 19, 2021 - 18
Food Business News - January 19, 2021 - 19
Food Business News - January 19, 2021 - 20
Food Business News - January 19, 2021 - 21
Food Business News - January 19, 2021 - 22
Food Business News - January 19, 2021 - 23
Food Business News - January 19, 2021 - 24
Food Business News - January 19, 2021 - 25
Food Business News - January 19, 2021 - 26
Food Business News - January 19, 2021 - 27
Food Business News - January 19, 2021 - 28
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Food Business News - January 19, 2021 - 53
Food Business News - January 19, 2021 - 54
Food Business News - January 19, 2021 - 55
Food Business News - January 19, 2021 - 56
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