Innocent clinches £32M finance package

Innocent Drinks has secured £32M worth of funding from Bank of Scotland Corporate, which the business intends to use to support its expansion plans in the UK, Europe and the US.

The company has an annual turnover of £115M, having been set up in 1998. Last month, it launched into Austria.

James Davenport, head of finance at Innocent, said: “The team at Bank of Scotland in Sheffield has been very supportive of Innocent over the past couple of years. The new financing package that has now been put in place will enable us to keep growing our business in the future.” Adam Barraclough from Bank of Scotland Corporate’s Commercial Banking team in Sheffield was responsible for hammering out the deal.

“We are absolutely delighted to win this mandate and support the incredible success story that is Innocent Drinks,” said Tim Pryor, head of corporate banking for Bank of Scotland Cororate’s north east region. “Their growth in recent years to become the dominant force in the UK’s competitive smoothie market should be an inspiration to other budding entrepreneurs. The fact that Innocent has chosen us as their partner further underlines our credentials as the bank for entrepreneurs. We can’t wait to work with them on the next chapter of their development.”