Innocent Drinks facts for kids
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Innocent strawberry and banana smoothie
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| Industry | Beverage |
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| Founded | 1998 |
| Founder | Richard Reed, Adam Balon and Jon Wright |
| Headquarters |
London
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United Kingdom
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Area served
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Europe |
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Key people
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Nick Canney (CEO) |
| Products | Drinks |
| Owner | The Coca-Cola Company (90%) |
Innocent Drinks is a company that produces smoothies and juice sold in supermarkets, coffee shops and various other outlets. The company sells more than two million smoothies per week. Innocent is over 90% owned by The Coca-Cola Company.
Contents
History
Innocent Drinks 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 1998, 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. In total, it took fifteen months from the initial idea to taking the product to market.
In 2007 McDonald's began a five-year trial of using Innocent smoothies as part of their Happy Meals. pens. Feedback from customers led McDonald's to drop the product in 2012. However, in 2015, the Chiquita Smoothie was replaced by two varieties of Innocent smoothies in the Netherlands.
Revenue for the company declined in 2009 as a result of the global financial crisis which led to an overall loss of £8.6m.
On 6 April 2009, Innocent Drinks announced on its website an agreement to sell a stake of 10–20% to The Coca-Cola Company for £30 million, with the three founders continuing to retain operational control. As a result of the takeover, Ethical Consumer magazine reduced their ethical rating for the company from 12.5/20 to 6.5/20. In April 2010, Coca-Cola increased its stake in the company to 58% from 18% for about £65 million. In February 2013 Coca-Cola increased their stake to over 90%, leaving the three founders with a small minority holding.
In June 2016, the drinks company reported a sales surge thanks to new products such as coconut water and vegetable smoothies. These new products contributed £28m to sales. Revenues reported that year were £247.4m, a 13% increase on the previous 12 months.
Products
Smoothies are Innocent's primary product. An Innocent smoothie consists of whole crushed fruit and juices, but other ingredients such as carrots and ginger have been used in some drinks. Innocent also makes juice for kids; a not-from-concentrate juice range; Innocent Bubbles, which are carbonated; and coconut water.
Innocent launched its first food product in 2008 with the Veg Pots range, further extending the line to include a range of Asian Noodle pots in 2013, before exiting the food business completely in 2015.
Innocent launched a new range in March 2014. Super Smoothies consist of a blend of fruits, veg, botanicals and crushed flax seeds, with added vitamins.
In 2015 they launched a range of cold press fruit and veg juices.
In 2018 the brand launched their very first range of vegan nut and oat drinks. It includes almond, hazelnut and oat drink varieties.
Product recall
In October 2005 there were several reports of Innocent smoothies "exploding". In 2007, Innocent recalled 100,000 bottles, stating that the explosions were caused by a natural fermentation of the ingredients.
Charity
From 2011 onwards, the company committed to give a minimum of £250,000 to the Innocent foundation in years when there is no profit made, to allow its work to continue. In 2013, the company increased this annual commitment to £950,000 per year for the next five years.
Innocent Drinks has pledged to give at least 10% of all its profits to charity every year.
The Innocent Foundation is a registered charity funded by the employees, shareholders and company of Innocent drinks. The foundation claims to have supported 67 different projects since their start in 1998.
The charities they support are chosen by the following criteria: Each organization must – benefit a community rather than individuals, be a not-for-profit organization, be pursuing charitable purposes, and consider taking part in The Foundation scholarship program which offers employees of Innocent Limited the opportunity to volunteer with partners, using their business skills to bring benefit to the organization.
In 2015 Action Against Hunger and the Innocent Foundation partnered to help improve the treatment of malnutrition in Mali and Pakistan. The efforts include mobilizing health workers to diagnose and treat children at home.
In 2003 Innocent began a project called the Big Knit. The company asks volunteers to knit small hats to put on their smoothies. For each smoothie sold Innocent stated they would donate 25p to Age UK to help older people during the cold winter months. The donations are used to provide lunches, classes, befriending services, and other support services offered by local Age UK centres. Innocent reports that 6 million hats have been knitted and they have been able to raise over £1.9 million for charities like Age UK.
Innocent provided 2 years of funding for The Trussell Trust's Holiday Clubs project, that provides meals, activities, and learning opportunities to families during school holidays, with the goal of reducing hunger and isolation.
In October 2016 Innocent foundation joined Oxfam's Emergency Response Network, a disaster relief fund for emergency support during a crisis.
