Arch comments were in no short supply this week as Innocent Drinks confirmed the sale of a minority stake to Coca-Cola for £30m. One resourceful journalist on the Daily Telegraph, in a search for haunting former protestations about its die-hard independent stance and ethical-environmental zeal, even checked the latest accounts (from 2007, filed late, by the way).
"In its last annual report," the diarist wrote, amused, "the 'smoothies' gave us this chin-scratching [insight]: the only thing outstripping revenue growth over the past few years was the increase in the number of beards at company HQ".
If only he had scratched a little deeper, he would have spotted a far more interesting figure: the sum of £14m, paid out as a dividend to the founders at the back end of 2007.
It would be churlish, however, to begrudge co-founders Balon, Reed and Wright a decent dividend, having reinvested the bulk of profits over previous years to build such a brilliant business. How were they to know 2008 would turn to mush?
To this day, instead of sporting Jaeger-LeCoultre watches and driving Baby Bentleys, they still prefer unbranded flipflops and unremarkable runarounds, remaining down to earth, genuine and fun. And damned gifted entrepreneurs, too, as the latest upwardly revised forecast for veg pots confirms.
But that £14m is the tip of an iceberg. "In case you were wondering I did ask the obvious question," the Telegraph diarist added, "and the answer was no. Innocent will not be serving Coca-Cola in the staff canteen."
Missed again, I'm afraid. The obvious question is: when does the earnout kick in? I'm convinced the Innocent trio are genuinely committed to the goal of growing the international operations, and are genuinely excited at the opportunity to lead the business. But for how long? Three years? Five years? Ten? However long it takes, they deserve it.
"In its last annual report," the diarist wrote, amused, "the 'smoothies' gave us this chin-scratching [insight]: the only thing outstripping revenue growth over the past few years was the increase in the number of beards at company HQ".
If only he had scratched a little deeper, he would have spotted a far more interesting figure: the sum of £14m, paid out as a dividend to the founders at the back end of 2007.
It would be churlish, however, to begrudge co-founders Balon, Reed and Wright a decent dividend, having reinvested the bulk of profits over previous years to build such a brilliant business. How were they to know 2008 would turn to mush?
To this day, instead of sporting Jaeger-LeCoultre watches and driving Baby Bentleys, they still prefer unbranded flipflops and unremarkable runarounds, remaining down to earth, genuine and fun. And damned gifted entrepreneurs, too, as the latest upwardly revised forecast for veg pots confirms.
But that £14m is the tip of an iceberg. "In case you were wondering I did ask the obvious question," the Telegraph diarist added, "and the answer was no. Innocent will not be serving Coca-Cola in the staff canteen."
Missed again, I'm afraid. The obvious question is: when does the earnout kick in? I'm convinced the Innocent trio are genuinely committed to the goal of growing the international operations, and are genuinely excited at the opportunity to lead the business. But for how long? Three years? Five years? Ten? However long it takes, they deserve it.
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