DRINKS TAKEOVER QUIZ EMBROILS SMOOTHIE MAKER

Innocent smoothies was founded when Cambridge graduates Richard Reed, Adam Balon and Jon Wright decided to start a business while on a snowboarding holiday

Their first smoothies were sold at a music festival after they spent six months on a recipe and £500 on fruit

They sold their first case of drinks to a local sandwich bar called Out To Lunch in London

Business took off when they received a £250,000 investment from American businessman Maurice Pinto

In 2009, Coca-Cola bought a 10pc stake in the firm for £30m. By 2013 Coca-Cola owned more than 90pc

Sales at the firm are now expected to be more than £250m a year SMOOTHIE maker Innocent Drinks is at the heart of a probe into the merger of two companies.

Dutch firm Refresco, which has Innocent Drinks, Ocean Spray and Um Bongo among its brands, had proposed a £935m takeover of US-based Cott, which is behind Old Jamaica ginger beer and fizzy drink Ting.

Both make, package and distribute soft drinks for brands in the UK.

But the Competition and Markets Authority (CMA) has raised alarm bells over the deal as both use a production process that allows its juice drinks to be sold preservative-free and without requiring refrigeration. It is understood this refers to Innocent Drinks’ production process.

Rachel Merelie, CMA acting executive director, said: ‘It is important that we address any issues to ensure that shoppers do not lose out.’

The CMA said it will refer the merger for an in-depth probe unless it feels Refresco has addressed competition concerns. Refresco said it would work with the CMA to address the issues raised. It has received clearance for the merger in the US and Canada.