Vita Coco Announces Expansion of Social Impact Program, The Vita Coco Project, to Brazil
17 Agosto 2023 - 8:00AM
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 COMPANYThe 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.
CONTACTSInvestors:ICR, Inc.investors@thevitacococompany.com
Media:Tim Biba203-428-3222tbiba@soleburytstrat.com
FORWARD-LOOKING STATEMENTSThis 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.
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