NEW YORK--(BUSINESS WIRE)--As coronavirus concerns have led consumers to stock up on pantry essentials, including nutritious beverages, Vita Coco has seen an unexpected sales surge for its shelf-stable coconut water. Over the past few weeks, Vita Coco sales have increased upwards of 100% across major retailers. Confronted with a crisis of conscience about the state of the business, Vita Coco’s CEO and Co-Founder Michael Kirban commits to investing $1 million of the company’s incremental profits into the resources that need it most.
Vita Coco will donate $1 million collectively to Feeding America and No Kid Hungry to support families, children and seniors in the most vulnerable communities affected by the coronavirus outbreak and beyond. The first donation of $500,000 will be made immediately across both organizations to include support of their COVID-19 Response Funds.
And Kirban wants others to do the same.
“It’s been really jarring seeing the business benefit from rapid growth amidst a growing global crisis,” said Kirban. “I feel that it’s our responsibility as a business to do what we can, to help support people who need it most, while we’re in the position to do so. We don’t know what the future will bring, but for now, we feel that the right thing to do is to invest into organizations that can use it to directly impact communities affected. I hope this pledge serves to encourage other businesses in a similar position to evaluate their strategies and take similar action.”
More than 37 million Americans face food insecurity, over 11 million children in the United States live in food-insecure homes and 22 million children rely on free or reduced-priced meals at school. As coronavirus causes families living paycheck to paycheck to lose their jobs and schools nationwide to close, Vita Coco is teaming up with Feeding America and No Kid Hungry to allocate essential resources to communities in need.
Vita Coco’s donations will contribute to the organizations’ COVID-19 Response Funds, which include providing emergency grants and other assistance to those working to help feed kids as schools close due to the coronavirus, giving emergency grants to food banks, schools and community groups working to help provide access to food and supplies and more.
ABOUT VITA COCO
Vita Coco is the leading coconut water beverage brand, celebrated for bringing the benefits of coconuts to the world. Championed by informed consumers, health and wellness experts, pro-athletes and celebrities for its nutrient-rich hydration, Vita Coco’s portfolio now includes sparkling coconut water, coconut milk, coconut oil, and MCT oil. Vita Coco was co-founded in 2004 by CEO Mike Kirban and Ira Liran and is a part of All Market Inc., one of the world’s largest privately-owned better-for-you portfolio beverage companies. For more information, please visit vitacoco.com.
ABOUT ALL MARKET INC.
All Market Inc. (AMI) was co-founded in 2004 by CEO Michael Kirban and Ira Liran, its brands include the leading coconut water beverage Vita Coco and clean energy beverage, Runa and sustainable enhanced water Ever & Ever. With its ability to harness the power of people and plants, AMI is poised to become the leading global better-for-you-beverage portfolio. For more information, please visit vitacoco.com.
ABOUT FEEDING AMERICA
Feeding America® is the largest hunger-relief organization in the United States. Through a network of 200 food banks and 60,000 food pantries and meal programs, we provide meals to more than 40 million people each year. Feeding America also supports programs that prevent food waste and improve food security among the people we serve; educates the public about the problem of hunger; and advocates for legislation that protects people from going hungry. Individuals, charities, businesses and government all have a role in ending hunger. Donate. Volunteer. Advocate. Educate. Together we can solve hunger. Visit www.feedingamerica.org, find us on Facebook or follow us on Twitter.
ABOUT NO KID HUNGRY
No child should go hungry in America. But 1 in 7 kids lives with hunger. No Kid Hungry is ending childhood hunger through effective programs that provide kids with the food they need. This is a problem we know how to solve. No Kid Hungry is a campaign of Share Our Strength, an organization working to end hunger and poverty.