The Vita Coco Co. acquires Copra, Inc.

NEW YORK — The Vita Coco Co., Inc., parent company of Vita Coco and Pwr Lift, has acquired Copra, Inc., for $175 million.

Founded in 2013, Copra is a supplier of ingredients from Thailand and specializes in such coconut products as frozen organic coconut water and meat.

Copra also offers a private label line that it produces at its facility in Thailand.

“Coconut water, which is the fastest growing category in the beverage aisle, is still in the early innings of what it can become,” said Michael Kirban, co-founder and executive chairman of Vita Coco. “We see a meaningful opportunity to keep expanding the category by meeting consumers in new occasions, formats and price tiers. Copra brings specialized capabilities, deep sourcing expertise and a super-premium offering that can help us serve more consumers and expand our market share while continuing to help shape and lead the category’s continued global growth.”