The Coca-Cola Co has upped its stake in smoothie maker Innocent Drinks to 58%.
The deal involves Coca-Cola buying the shares of Innocent’s two original start-up investors, who want to retire, Innocent said today (9 April). In addition, each of the founders of Innocent will relinquish a minority of their own shares, but retain the majority of them.
The founders will continue to lead the business as before, Innocent said, donating 10% of profits to charity.
The agreement is subject to approval by the competent merger control authorities. Financial details were not disclosed.
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