U.S.-based beverage brand Vita Coco announced plans to bring the coconut water brand to China through an exclusive agreement with Red Bull China.
Red Bull China also acquired a stake in privately-held All Market Inc., the makers of Vita Coco. Vita Coco, which is based in New York, sold approximately 25% of the business to Reignwood Group, the parent company of Red Bull China, at an enterprise valuation of USD665 million.
The alliance with Red Bull China will offer Vita Coco nationwide availability via Red Bull China's existing distribution and retail network in China.
Barclays Plc is acting as financial advisor to Vita Coco. Giannuzzi Group LLP is acting as legal advisor.