The entity behind flavoured coconut water brand Coco Fuzion100 has secured a £2 million (€2.28 million) investment in return for control of 60% of the company, according to the Irish Times.
C7 Brands Ltd controls Coco Fuzion, and was a subsidiary of investment firm Prime Active Capital, in which former rugby player Jamie Heaslip is an investor.
It is believed that the deal announced earlier this week will see Prime Active Capital reduce its stake in the business to 40% with Abbey International Finance investing in return for majority control of the company.
“Given the scale and growth of our key brand Coco Fuzion100, to have Abbey International Finance as our investment and growth partner is a pivotal moment in the company’s and brand’s history,” Steve Bartone the company’s chief executive, said in a statement.
"The global coconut water market has seen extreme growth over the last five to six years and we are well positioned, now more than ever, to further capitalise on the growth of the health sector in our core markets around the world.”
The coconut water brand is reportedly available in 10 international markets including Ireland, the UK, Australia, the United Arab Emirates and the United States.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.