"We are very excited to deepen our relationship with PepsiCo and Catterton Partners,” said Rodrigo Veloso, O.N.E. founder and CEO. “With demand, supply, distribution, consumer education and the capital to fuel them all lining up, we expect 2011 to be the year that coconut water goes mass market.”
"Coconut Water is one of the fastest growing categories in the U.S. beverage market and one in which we see a great deal of potential. Our investment in O.N.E. is an investment in the future," said Massimo d'Amore, CEO, PepsiCo Beverages Americas. "Since we first invested in O.N.E., just over a year ago, the company has demonstrated to us that they have what it takes to succeed—a great product, a strong brand, experienced leadership, deep understanding of the marketplace and robust supply."
Supply had been a limiting factor for coconut water producers in 2010, but O.N.E. has successfully addressed the issue by developing strong partnerships with three of the largest coconut processors in the world, based in the Philippines and Indonesia.
With the investment, distribution of the full line of O.N.E. coconut water-based beverages—including O.N.E. Coconut Water, O.N.E. Active, and O.N.E. Kids—will extend beyond the current predominantly warehouse distribution to include expanded DSD distribution through PepsiCo's bottling arm, Pepsi Beverages Company, in 2011.