Vita Coco Announces Expansion of Social Impact Program, The Vita Coco Project, to Brazil

Rhea-AI Summary

The Vita Coco Company is expanding its social impact program, The Vita Coco Project, to Brazil. Through a partnership with Brazilian nonprofit Apremavi, the project aims to protect biodiversity and restore the Atlantic Forest. The company has already distributed over 370,000 seedlings and trees, trained farmers, and built classrooms in the Philippines and Sri Lanka. Farmers in the Philippines have seen an 88% increase in income. The expansion aligns with the company's commitment to distribute and plant 10 million seedlings and trees by 2030.

Through partnership with Brazilian environmental nonprofit Apremavi, Company reaffirms commitment to making a positive impact on the world

NEW YORK, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The Vita Coco Company, Inc. (NASDAQ: COCO) (“Vita Coco” or the “Company”) today announced the expansion of its social impact program, The Vita Coco Project, to Brazil.

The Vita Coco Project was founded in 2014 through the Company’s Environmental and Social Initiative program to support and empower coconut sourcing communities. To date, The Vita Coco Project, through its local partners, has distributed more than 370,000 seedlings and trees, trained more than 1,000 farmers in regenerative agricultural practices and constructed 36 classrooms and schools in the Philippines and Sri Lanka. In the Philippines, farmers participating in the project have seen an 88% increase in their income.

“Since our founding, we’ve invested in the places and the people behind our product. I’m proud the Company is able to extend its support and resources to those located in Brazil,” said Mike Kirban, co-founder and executive chairman of The Vita Coco Company. “Our business is only successful when those we partner with are successful, and that means prioritizing our longstanding mission of return on impact and finding opportunities to strengthen our supply chain.”

In partnership with Brazilian environmental nonprofit Apremavi, The Vita Coco Project will support the planting of trees in both urban communities and in forests nationwide. The reforestation efforts will protect habitats for some of Brazil’s native species and drive the impact of the initiative beyond coconut farming. Overall, the Vita Coco Project will focus on three impact area:

• Distributing seedlings, including coconuts and other native species, to support local environmental ecosystems
• Promoting the economic livelihoods of farming communities
• Improving access to education
  

“We are excited to partner with Vita Coco to protect biodiversity and restore the Atlantic Forest, which is one of the richest and most threatened biomes in the world. Our actions at the Municipality Park in Atalanta will contribute with the conservation of species such as the Tawny-browed Owl and the Brown Howling Monkey,” said Carolina Schaffer, vice president at Apremavi.

The expansion further supports the Company’s “Seedlings for Sustainability” initiative and commitment to distribute and help facilitate the planting of up to 10 million seedlings and trees across the globe by 2030. To learn more about Vita Coco’s impact work or read its 2022 report, visit vitacoco.com.

ABOUT THE VITA COCO COMPANY
The Vita Coco Company, Inc. was co-founded in 2004 by Michael Kirban and Ira Liran. Pioneers in the functional beverage category, The Vita Coco Company’s brands include the leading coconut water, Vita Coco; clean energy drink, Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. With its ability to harness the power of people and plants, and balance purpose and profit, The Vita Coco Company has created a modern beverage platform built for current and future generations.

CONTACTS
Investors:
ICR, Inc.
investors@thevitacococompany.com

Media:
Tim Biba
203-428-3222
tbiba@soleburytstrat.com

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to future plans for the Company’s impact programs, and its environmental, social, and governance (“ESG”) initiatives. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the control of the company. These factors include, but are not limited to factors discussed under the caption “Risk Factors” in our Annual Reports on Form 10-K, our Quarterly Reports of Form 10-Q and our other filings with the Securities & Exchange Commission (“SEC”) as such factors may be updated from time to time and which are accessible on the SEC’s website at www.sec.gov and the Investor Relations page of our website at investors.thevitacococompany.com. Any forward-looking statements contained in this press release speak only as of the date hereof and we disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

FAQ

What is The Vita Coco Project?

The Vita Coco Project is a social impact program founded in 2014 to support coconut sourcing communities. It focuses on distributing seedlings, training farmers, and improving access to education.

What has The Vita Coco Project achieved so far?

The project has distributed over 370,000 seedlings and trees, trained more than 1,000 farmers, and built 36 classrooms and schools in the Philippines and Sri Lanka. Participating farmers in the Philippines have experienced an 88% increase in income.

What is the partnership with Apremavi about?

The partnership with Apremavi, a Brazilian environmental nonprofit, aims to protect biodiversity and restore the Atlantic Forest in Brazil. The project will support the planting of trees in urban communities and forests nationwide.

What is the 'Seedlings for Sustainability' initiative?

The 'Seedlings for Sustainability' initiative is a commitment by The Vita Coco Company to distribute and facilitate the planting of up to 10 million seedlings and trees worldwide by 2030.