Genuine Coconut is a leading independent operator in the coconut water sector. Founded in 2014 and headquartered in Zaragoza, Spain, the Company invested 2 years in designing, developing and perfecting a unique and innovative technology to remove coconut husk and place an easy-to- open system on the shell in an efficient and scalable way.
Genuine Coconut distinguishes itself from tetra-packed coconut water products by offering 100% natural, organic and unprocessed coconut water, to be consumed in the coconut shell, itself without any transformation, thus guaranteeing the excellent conservation of its properties.
Just two years after its launch, Genuine Coconut employs 51 people and expects to reach €M 6 in sales in 2017. Available in many major international retail chains across Europe, the Company aims to enter North America before the end of the year.
Genuine Coconut’s growth strategy, as defined by CEO Carlos Amorós, is based on the following 3 drivers:
capex investments to increase production capacity and meet increasing demand
entry into new markets, most notably North America
increase sales in Europe, selling to new retailers and increasing presence with current clients
This transaction will provide Genuine Coconut with the support of Unigrains-MCH to be able to assist in consolidating its position in Europe, accelerating international development and accompanying the ambitious external growth strategy.
Unigrains Iberian Capital Fund
Genuine Coconut marks the first investment of Unigrains Iberian Capital Fund, advised by MCH Private Equity. With €M 20 committed by Unigrains, the fund seeks minority stakes in Spanish and Portuguese agri-food and agro- industry companies and benefits from both the unique sector expertise of Unigrains and the local market know-how of MCH Private Equity.
Jean-François Laurain, Unigrains’ CEO, declared: “The Iberian Capital Fund and our partnership with MCH Private Equity represent a key step in Unigrains’ internationalization. The investment in Genuine Coconut perfectly illustrates our mission: to provide Spanish and Portuguese agri-food and agro-industry companies the same financial and industry expertise that has accompanied the development of more than 1 000 companies in France over the past 50 years.”
In the view of Francisco Caro, Partner at MCH and in charge of Unigrains Iberian Capital fund, “The investment in Genuine Coconut is going to be the first of a series of investments that will position the Unigrains-MCH fund as the leading Iberian investor in the agri-food industry.”