Innocent seeks investor to boost smoothie sales

Innocent Drinks is looking for an investor to help counter a downturn in smoothie sales and fund further growth. The company will sell a minority stake for up to £35m.

Innocent has previously repeatedly stated its commitment to maintaining its independence, and it is not known what kind of investor it will now be looking to attract.

The move comes as TNS data reveals that sales of Innocent Smoothies almost halved from £6.3m in the four weeks to June 15, compared with £3.4m in the four weeks to September 7.

Currently, US investor Maurice Pinto owns a 16% stake in the company, 10% is held by an employee benefit trust, with the remainder shared between its three founders Richard Reed, Adam Balon and Jon Wright.

Reed says: “Following the significant growth of our international business over last few years and the successful launch of our Innocent Veg Pots, we have decided to look for a minority investor to support our next phase of growth,” Reed says.

“Natural, healthy food presents a huge opportunity both in the UK and in Europe, and we want to make the most of this by stepping up the pace we go after it by.”

He says that despite the downturn in smoothie sales the company remains “committed” to the smoothie category. “That means investing in making smoothies more affordable, and increasing ATL investment.”

Innocent was set up in 1998 and produces the UK’s leading smoothie brand, with a 63% market share. Innocent smoothies are now sold in 12 European countries.

Latest from Marketing Week

Marketoonist on PowerPoint pitches

The Marketoonist

Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here Tom Fishburne will be speaking at the Festival of Marketing, which is taking place on 4 and 5 October at Tobacco Dock. To find out more information, including how to book tickets, visit […]

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here