Coke Take Stake in Innocent Smoothies
Innocent said the money will be used to take innocent to the next level of success in innovation and expansion across Europe.
07/04/09 US giant Coca-Cola will take a 30-million-pound minority stake in natural drinks maker Innocent to help it expand into Europe, Innocent has said. The British company, which makes 100-percent fruit smoothies and prides itself on its socially-responsible image, already operates in 13 European countries and has an annual turnover of 100 million pounds.
Innocent said the money will be used to take innocent to the next level of success in innovation and expansion across Europe. Richard Reed, co-founder of innocent said, ‘We’re excited by this minority investment as it enables us to do more of what we are here to do – get natural, healthy products to as many people as possible. All the money is coming into the business to fund our European expansion and the founders will continue to lead and run the company – we will be the same people, in the same offices, making the same products in the same way. Every promise that innocent has made - about making only natural healthy products, pioneering the use of better, socially and environmentally aware ingredients, packaging and production techniques, donating money to charity and having a point of view on the world - will remain. We’ll just get to do them even more.”
“We chose Coca-Cola as an investor because as well as providing the funds which will allow us to increase our investment in the brand both in the UK and internationally, they can help us get our products out to more people in more places. They have been in business for over 120 years, so there will be things we can learn from them. And in some small ways, we may be able to influence their thinking too.’
James Quincey, Group Business Unit President for Coca-Cola Europe commented on the investment: ‘We are delighted to have the opportunity to invest in innocent’s future. We have long admired their brand, their products and their unique approach to business. Our investment will support innocent in helping more consumers enjoy their products and for the business to expand across Europe.’
