Zola — maker of top-selling coconut waters, acai juice, and dark-chocolate-covered fruit — announced on Wednesday the completion of a sale to private equity firm KarpReilly LLC.
“KarpReilly is the perfect partner for Zola,” said Chris Cuvelier, Zola’s founder and CEO. “[The firm's] long-term approach and track record for growing great brands will help Zola reach its full potential.” Because of the sale, Zola will have the financial resources to invest in people, innovation and the brand, thus accelerating its growth.
Zola’s current management team will remain in place to execute a long-term growth strategy. “We like to invest in great brands and passionate people,” said Allan Karp, co-founder of KarpReilly. “Chris and the Zola team have done a fantastic job creating an amazing brand and a loyal following leveraging their great tasting products and the unique Fruits of the World brand platform. The team has some great ideas in the pipeline and we look forward to supporting them as they take the company to the next level.”
The company recently announced new distribution and is continuously building out its footprint in natural food and conventional grocery stores across the country.
“Our expanding distribution and soon-to-be announced new products, coupled with this new partnership, will give us the opportunity to reach more consumers with our great tasting better-for-you products,” Cuvelier said.