Coca-Cola raises stake to take majority of British drinks company Innocent

Coca-Cola buys majority of UK’s Innocent Drinks

NEW YORK — Coca-Cola will increase its stake of Innocent Drinks to take a majority ownership of the British fruit and smoothie drinks maker, although Innocent will retain control of the business.

The increased stake announced Friday by the world’s largest drink maker comes a year after Coca-Cola initially bought an 18 percent stake for 30 million pounds, or about $44 million.

Coca-Cola spokeswoman Kerry Kerr said Coca-Cola will buy an additional 40 percent, giving it 58 percent ownership. Terms have not been disclosed.

Innocent said the acquired stake had been owned by two of the company’s original investors who want to retire, Maurice Pinto and Jules Hydleman.

Coca-Cola will also buy the minority of shares from other founders.

Coca-Cola and other major drink makers like PepsiCo Inc. have been trying to add more healthy drinks to their lineup as shoppers increasingly seek out juices and teas, rather than soft drinks.

Innocent has been known for its mission of providing natural, healthy foods since its founding in 1998 by college friends. The company also donates 10 percent of its annual profits to a charity it runs that pays for projects in the countries where its fruit originates.

Innocent co-founder Richard Reed, who left a job in advertising to start the company, said the relationship with Coca-Cola has gone well in the first year and the company is helping Innocent expand into new countries.

Kerry said she was not yet sure if Innocent’s products will be available in the U.S.

Shares of Coca-Cola rose 83 cents, or 1.5 percent, to close at $54.59 on Friday.