Coca-Cola has taken a minority stake worth GBP 30m in Innocent Drinks, with the financial injection to form part of  the smoothie company’s move to expand across Europe.

The confirmation follows weeks of speculation that the global soft drinks giant has been in serious negotiations with Innocent.

Richard Reed, Innocent co-founder of innocent says: “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.”

Innocent first launched in 1999 and currently has a turnover of over GBP 100m. The company has a presence in over 13 countries and employs over 250 people across Europe.

Last December, Innocent appointed former Walkers marketing chief Thomas Delabriere as its marketing director.

It recently expanded into the snack ready-meal sector with the launch of Innocent Veg Pots.

Today The Coca-Cola Company confirmed that it will be investing in Innocent Drinks.

A Coca-Cola spokesperson said: “We are delighted to have the opportunity be able to invest in Innocent’s  future.  We have long admired their brand, their products and their unique approach to business.  We believe our investment will support Innocent in helping more consumers enjoy their products and for the business to expand across Europe.”

via Marketing Week