Vita Coco debuts as Public Benefit Corporation, boosting better-for-you products
21 Jul 2021 --- All Market Brands, a platform of high-growth better-for-you brands, including coconut water brand, Vita Coco, is converting to a Public Benefit Corporation (PBC).
Since its inception in 2004, All Market Brands’ vision has been to “democratize health and wellness” and deliver nutritious, natural products to consumers looking for better-for-you brands.
The adoption of the PBC structure enables a for-profit business to state a public interest mission in its certificate of incorporation to allow for a purpose beyond maximizing profit for stockholders.
Harnessing nature’s resources
As a PBC, and with a growing portfolio of natural products, All Market Brands has identified its public benefit purpose as harnessing, while protecting, nature’s resources for the betterment of the world and its habitants by creating ethical, sustainable, better-for-you beverages and consumer products that not only uplift communities but do right by the planet.
This commitment continues AMB’s sustainability and social impact strategy for long-term, responsible and equitable growth.
And it comes as transparency trends, sustainability, planetary health and social missions trends gain traction. More than ever consumers want to know more about their food, and how it impacts people and the planet.
“Our values have always been a reflection of those of our consumers. It’s in our DNA to not only do what feels good, but what feels right,” says Michael Kirban, CEO and co-founder of All Market Brands.
“As we take this important next step of becoming a PBC and evolving our responsible business model, we are embracing a new company mindset of ‘ROI,’ in which measuring return on impact is just as critical as measuring return on investment.”
With social impact initiatives like the Vita Coco Project, All Market Brands positively impacts its sourcing communities.
“Give, Grow, Guide”
Since 2014, the program has supported farming communities, addressing the most pressing challenges in sustainable development for coconut growers focusing on responsible agriculture, education and economic prosperity.
The project’s “Give, Grow, Guide” philosophy aims to build a thriving community that produces responsibly managed coconuts through best practices in farming techniques, support of local infrastructures like schools and classrooms and investment in education through academic scholarships.
The aim is to positively impact the lives of 1 million people in these communities.
In addition to the Vita Coco Project, All Market Brands shares its values and purpose across fair trade initiatives, ocean health, and nutrition and wellness programs.
Edited by Elizabeth Green
