The analysis highlights Vita Coco's shift from an asset-light model to vertical integration by acquiring Copra, which includes a factory in Thailand. Copra's net sales grew at a 48% compound annual rate over three years and are expected to exceed $100 million this year. The deal's earnout has a floor of $45 million, indicating Vita Coco's strong conviction in the acquisition. Despite a recent 40% stock decline from June peaks and insider selling, the analysis suggests the acquisition addresses past supply chain concerns and positions Vita Coco as a growth stock.