UK food and beverage group Innocent has said it is scouting for potential bidders for a minority stake in its company.
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The company told just-food’s sister site just-drinks yesterday (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 Co. is considering purchasing a stake in the smoothie maker, as well as a number of private equity houses including Bridgepoint and Darwin Private Equity.
Coca-Cola Co., however, remained silent on the reports when contacted yesterday (9 March).
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By GlobalDataWhen asked about Coca-Cola Co.’s rumoured 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.
In September, Innocent made its first push into food with the launch of a range of vegetable snack pots.
