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Innocent Drinks sells £30m stake to Coca-Cola

It has been confirmed that Coca-Cola, the worlds largest manufacturer of non-alcoholic beverage concentrates, has taken a considerable stake in the smoothie pots brand - Innocent Drinks.

According to a spokesperson at Innocent, the stake was said to be between 10%-20%, giving a business valuation of the Shepherd’s Bush-based company at around £200-£300m. The newly-acquired share would be used to help stabilise its investment in the UK, improve international growth and provide an increase in media-based advertising.

Richard Reed, Co-Founder of Innocent Drinks, emphasised that the company would remain an independent business, sticking true to its family-values, regardless of its close-ties with the multinational. “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,” adding that “We will be the same people, in the same offices, making the same products in the same way."

As well as expanding its international ties, the extra money will be used for raising finance. Reed added: “With 82% market share, we are going to support this category to get it back in growth and have already seen the fruits of this labour in March 2009, with like-for-like sales up on March 2008."

Coca-Cola as a stakeholder will certainly be a catalyst for controversy, being an American-based, corporate entity which has in the past caused concern over its human-rights record.

Reed was quick to defend the decision by adding “it’s like having an older brother in the playground, we can ring them from for help from time to time."

The unit president of Coca-Cola Europe, James Quincy, said that he was “delighted to have the opportunity to invest in Innocent’s future.”



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