innocent and Coca-Cola agree deal for further investment
Innocent is pleased to confirm that they have agreed a deal for Coca-Cola to further increase its investment in the company. The deal involves Coca-Cola buying the majority of the founders’ remaining shares.
Innocent 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 founders will retain a minority equity holding and sit on an Executive Committee which will continue to support the business as it begins its next exciting phase of innovation and international expansion.
Since Coca-Cola's initial investment four years ago, innocent has gone from strength to strength; doubling in size, becoming smoothie market leader across Europe and raising millions of pounds in donations for the innocent foundation .
The transaction is subject to governmental approvals.
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.’
For further information from innocent please call Annika on 020 3235 0430 or email email@example.com
To reach Coca-Cola, please call the Press Office on 020 7998 6287
Notes to Editors:
Launched thirteen years ago, innocent is the UK and Europe’s favourite smoothie company selling natural healthy products in 15 countries and employing over 250 people across Europe.
Innocent’s mission is to make it easy for people to do themselves some good and to make it taste good too. In addition to pure fruit smoothies, their successful latest products – veg pots and an NFC juice range - fit with their mission of getting natural healthy products to as many people as possible.
As a business, innocent want to leave things better than they find them. This is reflected in everything they do from the use of green electricity at Fruit Towers, to sourcing fruit from places that go the extra mile in terms of looking after the people that work on the farms, and the environment. They donate a proportion of profits every year to charity, mainly to the innocent foundation, which funds NGOs in the countries where fruit is sourced.
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 16 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks.
Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of more than 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system employees. For more information, please visit www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo or visit our blog at www.coca-colablog.com.