Boyne Capital has acquired natural beverage company Blue Monkey Beverages, a specialist maker of coconut water and sparkling tropical fruit juices.
Blue Monkey’s product lineup includes Blue Monkey 100% Pure Coconut Water, Blue Monkey Sparkling Juices, and Blue Monkey Coconut Chips. These products are made without added sugars, preservatives, or concentrates, aligning with consumer demand for clean-label, natural beverages. Blue Monkey’s customers include health-conscious consumers, retailers, and foodservice businesses across North America and international markets.
Blue Monkey is actively expanding its market reach with new domestic and international distribution partnerships. Distribution increases in the U.S. market include the expansion of both Blue Monkey’s coconut waters and sparkling juices into Kroger, Albertsons, and Walgreens during the fourth quarter of 2024 and the first half of 2025.
Now in its fourth year with Costco domestically and internationally, it is also the top-selling beverage at Sam’s Club China. In the Caribbean, Blue Monkey is launching in Puerto Rico and Jamaica through PEPSI P.R. For the past three years, Blue Monkey products have been available in Kuwait through Alasala United Co. Blue Monkey is expected to continue its international expansion in 2025 by entering the UK and Australia.
Coming in early 2025, South Korea’s largest retailer, EMART and EMART Traders, will start carrying Blue Monkey’s organic coconut waters and sparkling juices. The company’s expansion into Asia also includes a partnership with a large Hong Kong-based consumer goods distributor that sells through grocery, convenience, and foodservice channels across eight Asian countries.
Blue Monkey was founded in 2009 by Simon and Mary Jane Ginsberg and is headquartered in Vancouver, British Columbia, and Long Beach, California.
Co-investing in this acquisition is Fifth Ocean Capital, led by beverage industry veteran Steve Beck. With the close of the transaction, Mr. Beck now leads Blue Monkey as the company’s CEO.
“We are thrilled to partner with Blue Monkey, a company that aligns perfectly with our investment philosophy of supporting and scaling dynamic, high-potential businesses,” said Derek McDowell, managing partner at Boyne Capital. “Our collaboration with Fifth Ocean is another example of a successful partnership with a value-added independent sponsor, and we are already working together to build the business.”
“We see a significant opportunity to develop new products and expand with new customers while also providing exceptional support to our existing customers,” added Mr. Beck. “We believe Boyne is the perfect partner to help take Blue Monkey to the next level.”
Boyne Capital invests in lower middle-market companies with revenues of less than $100 million and EBITDA of $3 million to $15 million. Sectors of interest include healthcare services, consumer products and services, manufacturing, business and financial services, and industrial, infrastructure, and engineering services. The firm was founded by Mr. McDowell in 2006 and is headquartered in Miami, Florida.
Fifth Ocean Capital invests in North America-headquartered companies that have revenues of up to $100 million and EBITDA of at least $3 million. The firm’s sectors of interest include services, consumer, niche manufacturing, logistics, packaging, and ingredients. Boca Raton-based Fifth Ocean was co-founded in 2023 by its managing partners Stephen Beck and Denic McEvoy.
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