PepsiCo in bid to acquire Vita Coco

NEW YORK: Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday. The acquisition would help PepsiCo diversify its offerings as it grapples with stagnant sales, amid a shift of many consumer tastes’ away from sugary drinks and snacks toward healthier options. Purchase, New York-based PepsiCo has offered less than the $1 billion that All Market’s owners have been seeking to sell the company, and there is no certainty that negotiations will result in a deal, the people said. The sources spoke on condition of anonymity because the negotiations are confidential. PepsiCo did not respond to a request for comment, while Vita Coco declined to comment. Founded in 2004 by two childhood friends in New York, Vita Coco now has sales in 30 countries.

Published in The Express Tribune, May 28^th, 2017.

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