You may have seen in today's papers or on the telly that Coca-Cola have taken a minority stake in innocent. There’s a letter from the founders explaining the nature of the deal on the front page of our website (we put it there yesterday as lots more people visit our site than the blog – if you’ve time it may be worth checking it out)
The background to this deal is that we’re ten years into a thirty year journey towards what we want innocent to become. Our vision is for innocent to grow into a global, natural, healthy food and drinks company – one that makes stuff which is good for people, uses ‘lighter footprint’ ingredients, packaging and production techniques, and which supports charities in the countries where our fruit comes from. In terms of our international expansion, it’s a big goal, and to get there we're going to need a bit of help.
That's where the deal with Coke comes in. They've invested £30M for a stake of between 10% and 20%. We spoke to plenty of potential investors before we made a decision (over fifteen), and you'd be surprised how many wanted to tell us what to do and to run innocent themselves, rather than allowing us to carry on doing what we do.
And that's why we chose Coke – because of all the people we spoke to, they were the ones who guaranteed a hands-off approach; an approach that means that we continue to run innocent our way. We will continue to make the decisions, just as we always have done. Adam, Jon and Richard, the three founders, will continue to lead the business. Coke have placed no restrictions on what we can and cannot do. But we can ask for their advice and help from time to time, which we think will be useful. They may even at some point be able to help distribute our products, but it’s early days so we’ll have to see.
The investment means we now have the funds to do what we’re here to do; get more healthy stuff to more people and places across Europe and beyond. And, let’s face it, times are pretty hard economically speaking, and this investment gives us the added stability to weather the tough headwinds most businesses are facing.
If you've ever started your own business, you'll be able to appreciate that innocent is much more to us than the place where we work. And we know people will believe us when we say that we thought more about this decision than any other in our history. We know some people will always disagree and we will respect that, but we know this deal is a great opportunity for innocent and will allow us to do what we’re here to do – get more healthy products to more people.
We know you have thoughts and comments so feel free to post them. But please keep all comments clean and free of abuse – this is a family show i.e. kids read this blog too.
A short note - there have been lots of comments on this post, but the navigation to see subsequent pages of comments is a little hidden, due to the standard blog design. You'll find a small set of double arrows like this '>>' at the bottom of the page, above the "Post a comment' box. Click it to see subsequent comments.