Innocent Drinks has agreed a deal for The Coca-Cola Company to further increase its investment in the smoothie maker. The deal involves Coca-Cola buying the majority of the three founders’ remaining shares.
Innocent said: “We will continue to be run by a home-grown Innocent management team and will focus on its three main aims of getting healthy, natural food and drinks to as many places as possible, pushing harder for better social and environmental standards in business, and supporting the activities of the innocent foundation.”
Innocent’s three founders – Richard Reed, Adam Balon and Jon Wright – will retain a minority equity holding and sit on an executive committee that will continue to support the business as it begins its next phase of innovation and international expansion.
Since Coca-Cola’s initial investment four years ago, Innocent Drinks has doubled in size, becoming smoothie market leader across Europe and raising millions of pounds in donations for the Innocent Foundation.
Richard Reed, co-founder of Innocent, said: “Innocent has flourished since our deal with Coca-Cola four years ago. They have been hugely supportive of our mission of getting natural, healthy foods to more people and have been 100% committed to protecting our brand and the values it stands for. Given the success of the relationship, they will be increasing their investment, supporting even more innovation and international expansion. Importantly for us, the business will be run by a home-grown Innocent team in the same unique innocent way, with the founders remaining involved to support the business in the years ahead.”
James Quincey, Coca-Cola’s group president, Europe, added: “Our relationship with Innocent continues to flourish and our investment has fuelled the business’s expansion. We remain confident in the long-term growth potential of the company and the team, and consider the brand values as fundamental to continued success.
“We are excited about the future and getting Innocent’s products to more people in more countries with the valuable input and continued support of the founders.”
Source: Innocent Drinks
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