Coca-Cola Acquires Majority Share in Innocent

According to reports, the Coca-Cola Company has got hold of a majority share in the British fruit smoothie maker company, Innocent. However, Coco Cola maintains that the three founders of the company will continue to run it.

Coca-Cola the US drink conglomerate acquired 18% stake in the company a year back, for £30m. The company has now increased its share in the company to 58%.

Coca- Cola has remained silent on the price of the additional shares.

According to Innocent's founders, a major part of the shares purchased by Coca Cola belong to the firm's original investor, Maurice Pinto. Pinto wants to step down from office. They remarked, "As for us, we're selling a minority of our shares, but keeping the majority of them, and we will continue to lead the business, with no change or loss of control. The deal gives no new rights to Coke".

Innocent claims, that the company is ethically conscious. It also donates 10% of its profits to charity.

The firm was established in 1999 by Richard Reed, Adam Balon and Jon Wright who were friends. The company took ground when the three of them spent £500 on fruit and turned it into smoothies to sell them at a small London music festival.