Coke Teams Up With Socially Focused Smoothie

Coke said this week it will take a minority stake in London-based Innocent, which has quickly become one of Britain's top brands by marketing its healthy ingredients and social commitment. By giving 10% of its profits to charity and using recycled bottles, Innocent was one of the first consumer brands launched in Britain to develop a big following through ethical marketing.

The investment of £30 million, or about $44 million, may be small, but it speaks to Coke's continued interest in expanding beyond soft drinks and in owning small stakes in innovative companies. Details of the transaction weren't disclosed, but Coke will have a stake between 10% and 20%, valuing Innocent between £150 million and £300 million, Innocent co-Chief Executive Richard Reed said. Founded 10 years ago, it now has 82% of the U.K. smoothie market, according to a spokeswoman.

Wall Street Journal