Vita Coco has acquired super-premium Thai coconut water producer Copra in a deal that will expand its presence across the coconut water category and give it access to a fast-growing premium segment. According to Vita Coco, Copra’s net sales have grown at a compound annual growth rate of 48% over the past three years in the cold-chain coconut water segment. The initial purchase price was funded through 80% cash on hand, with the remainder paid in Vita Coco common stock. Vita Coco said it plans to expand Copra’s capacity, improve operational efficiency, support existing customer demand and develop new customer relationships. Evercore acted as financial advisor to Vita Coco, with Ballard Spahr LLP serving as its legal advisor.