UK: Innocent Drinks looking for potential bidders

By just-drinks.com editorial team | 9 March 2009

UK smoothie group Innocent Drinks has said it is scouting for potential bidders for a minority stake in its company.

The company told just-drinks today (9 March) that it is looking for a "minority investment only".

Innocent is understood to be selling the stake in a bid to raise funds for international expansion.

Reports have suggested that Coca-Cola is considering purchasing a stake in the ethical smoothie brand, as well as a number of private equity houses including Bridgepoint and Darwin Private Equity.

Coca-Cola remained silent on the reports when contacted today.

When asked about Coca-Cola's interest, a spokesperson for Innocent said: "There have been so many investment rumours about Innocent over the years that we have lost count, so we have a simple policy of never commenting on rumours, no matter what they say, as it just adds weight to the speculation."

Worsening economic conditions hit Innocent smoothie sales last year, with like-for-like sales falling by around 20% in value for the six months to the end of September. The drop was blamed on declining consumer spending power, largely due to the rising cost of bills and food staples, as part of a general economic downturn.

Sectors: Soft drinks

Companies: Innocent