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Business

Coke invests in coconut water

By Joe Guy Collier
Sept 1, 2009

Coca-Cola Co. said it has become a minority investor in Zico Beverages, a California-based maker of coconut water beverages.

Atlanta-based Coca-Cola and other partners invested $15 million for less than 20 percent of Zico, according to a joint press release by the companies. Zico is marketed as a sports drink with more potassium than a banana.

Other investors include Jesse Itzler, principal of Suite 850 and co-founder of Marquis Jets. Suite 850 is a brand incubator and marketing firm.

Beverage Digest reported last week through Twitter that Coca-Cola and Zico were nearing a deal. In August, PepsiCo bought Brazilian coconut company Amacoco.

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