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Article: Coca-Cola buys stake in Innocent drinks maker
- Article from:
- AP Worldstream
- Article date:
- April 7, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Innocent Drinks, the British fruit and smoothie drinks maker set up with a strong ethical ethos by student friends, said Tuesday it is selling a minority stake to Coca-Cola Co. for 30 million pounds ($44 million) to fund its expansion across Europe.
The deal leaves Coca-Cola, which has been criticised by health campaigners for its sugary soft drinks, with around 10 to 20 percent of the company.
Co-founder Richard Reed played down suggestions that its new U.S. stakeholder would have undue influence, saying that the original three founders would "continue to lead and run the company."
"We will be the same people, in the same offices, making the same ...