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Mr. Mark Hayes

In: Science

Submitted By hayesmark
Words 1677
Pages 7
Innocent Drinks makes smoothies, juice and veg pots, sold in supermarkets, coffee shops and various other outlets. The company sells over two million smoothies per week.[1] Innocent is 58% owned by The Coca-Cola Company. Contents[hide] * 1 History * 2 Products * 3 Innocent Foundation * 4 Controversy * 4.1 Product recall * 4.2 Advertising claims * 4.3 Charitable donations * 5 References * 6 External links |
[edit] History
Innocent was founded by three Cambridge University graduates, Richard Reed, Adam Balon and Jon Wright, then working in consulting and advertising. The three were friends at St John's College, Cambridge. In 1999, after spending six months working on smoothie recipes and £500 on fruit, the trio sold their drinks from a stall at a music festival in London. People were asked to put their empty bottles in a 'yes' or 'no' bin depending on whether they thought the three should quit their jobs to make smoothies. At the end of the festival the 'YES' bin was full, with only three cups in the 'NO' bin, so they went to their work the next day and resigned. After quitting their jobs, the three struggled to find investment, but eventually had a lucky break when Maurice Pinto, a wealthy American businessman, decided to invest £250,000.[2] In total, it took fifteen months from the initial idea to taking the product to market.[3]
On 6 April 2009, Innocent Drinks announced on its website an agreement to sell a stake of 10-20% to The Coca-Cola Company, with the three founders retaining operational control for £30 million.[4] Their website was bombarded with customers and several pages on social networking sites have emerged that encourage a boycott of the company.[5] In April 2010, Coca-Cola increased its stake in the company to 58% from 18% for about £65 million.[6]
Innocent credit the creation of their brand identity to David Streek...

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