Rebel Kitchen and Primal Pantry owner Nurture Brands plans to acquire premium coconut water brand Jax Coco.
Jax Coco – which was founded in 2012 by Jane and Max Gottschalk and already has “a strong presence” in Hong Kong, Taiwan and China – will join the Nurture Brands portfolio in January.
The brand’s Tetra Pak and glass bottle formats are currently available at Ocado, Whole Foods Market and independents and wholesalers in the UK.
Its new 330ml aluminium can format recently launched into Amazon and various wholesalers.
The deal with Jax Coco will close in exchange for equity in Nurture Brands, along with a commitment from Max Gottschalk to invest in a series A fundraise, Nurture Brands MD Adam Draper told The Grocer.
It is expected to close in January 2022.
The acquisition would “accelerate our business growth by meeting customer demand for a high-quality ambient coconut water, where our chilled Rebel Kitchen coconut water is not viable in their supply chain, as well as offering an exciting springboard into Asia”, said Nurture Brands founder Ben Arbib.
Gottschalk said Nurture Brands was “a fitting home for Jax Coco”, which would open up “a variety of growth opportunities” for the brand.
Draper added the business was striving to create “a world-class portfolio of sustainable, plant-based brands that delight consumers”.
It comes after Nurture Brands launched a duo of vegan coconut-based treats via its Rebel Kitchen brand last month.
Called Coconut Bytes, the snacks are billed as “crunchy, bite-sized snacks made from a few simple, minimally processed ingredients”, like coconut, tapioca and sea salt.
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