Zico Beverages LLC founder Mark Rampolla is bringing his beverage baby back home after seven years apart.
PowerPlant Ventures, a venture-capital firm co-founded by Mr. Rampolla that backs emerging plant-based products and brands, acquired coconut water-based beverage brand Zico from the Coca-Cola Co. and will rename it Zico Rising.
The deal reunites Mr. Rampolla with a beverage brand he created in 2004 after discovering the benefits of coconut water while serving in Central America with the Peace Corps.
He ultimately sold the brand to Coca-Cola in 2013, several years after the beverage giant’s corporate venturing arm invested in Zico.
But last year, when Coca-Cola announced it would scrap nearly 200 brands, including Zico, Mr. Rampolla saw an opportunity to rebuild the brand he had created.
