So innocent drinks have sold 10% – 20% of their company to Coca Cola and got £ 30 m. innocent have been going for 10 years and wanted to expand into Europe and apparently they will put none of the money into shareholder pockets but use it to get their drinks into fridges in Europe.
innocent have one of the great brands and look as though they do what they promise. I once asked Richard (the marketing one, I think)) whether their logo of a type of smiley face, was actually drawn in a matter of seconds with a felt tip pen…which is what it looks like. He said that yes, the person they were talking to just pulled out a felt tip pen and drew it. (I think it was in red not black). Good story – we love natural and authentic!
So will they continue to be authentic while having Coca Cola as a shareholder? Hard to say but from innocent’s track record you have to assume the chances are good. As a small shareholder Coca Cola will not be able to influence decisions but it probably depends on the potential size of the European market and how much access will be through Coca Cola.
Access to market is a very real currency which could have far more value than a “mere” £30 million. .. and may be pointed out in the boardroom in the future.
The warmth and cuddliness of the innocent brand will re-examined. I would guess that very few people who choose innocent drinks now actively drink Coca Cola or view it as a saviour. But it is sensible footwork on the part of Coke to ally with a smaller authentic product. As innocent have hinted the big coup would be to change some of Coca Cola’s ways ..
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