In January 2021 during the COVID-19 pandemic and after years of declining sales, the company was sold back to its founder, Mark Rampolla, through PowerPlant Ventures.

Zico Beverages was founded in 2004 by Mark Rampolla after being introduced to coconut water as a Peace Corps volunteer in Central America.

[4] In 2013, Coca-Cola purchased the outstanding stake, thus acquiring the entire Zico business and brand.

[5] In 2020, Coca-Cola announced it would discontinue the Zico products by the end of the year, citing a sales decline of more than 20% for coconut water products in the preceding five years, an inability to catch up to the market segment leader Vita Coco, and the economic disruption caused by the COVID-19 pandemic.

The brand's ownership thus came full circle, as PowerPlant Ventures was co-founded and is co-led by Mark Rampolla, who was behind Zico's initial 2004 launch.