The Vita Coco Company (COCO) The 44th Annual William Blair Growth Stock Conference summary

Company overview and history

• Pioneered packaged coconut water in the U.S. and remains the category leader, offering a variety of products and packaging formats.

• Built a strong brand through early adoption, celebrity investment, and a focus on health and wellness trends.

• Expanded impact through the Vita Coco Project, supporting farming communities with education and infrastructure.

• Committed to ethical, sustainable business practices as a B Corp and public benefit corporation.

• Focused on building a multi-brand beverage platform through innovation and targeted M&A.

Business model and supply chain

• Operates an asset-light, low-capital supply chain with long-term, often exclusive, contracts with coconut processors.

• Diversifies sourcing across multiple countries to mitigate risks and maintain flexibility.

• Provides technical support and quality control to partners, fostering strong, cooperative relationships.

• Maintains flat cost of goods despite inflation, highlighting supply chain efficiency.

• Private label business provides scale but is decreasing as a share of total revenue.

Market position and growth

• Holds leading market share in the U.S. and U.K., with strong penetration among diverse and growing consumer groups.

• Outpaces category growth, driven by multipacks, innovation, and core product strength.

• Brand is perceived as authentic, fun, and natural, appealing to a wide range of consumers and use occasions.

• E-commerce and retail execution are key competitive advantages.

• Category leadership attributed to singular focus and a supply chain difficult for competitors to replicate.