Innocent Drinks operational control. As a result of the takeover, Ethical Consumer magazine reduced their ethical rating for the company from 12.5/20 to 6.5/20. In April 2010, Coca-Cola increased its stake in the company to 58% from 18% for about £65 million. In February 2013 Coca-Cola increased their stake to over 90%, leaving the three founders with a small minority holding. In June 2016, the drinks company reported a sales surge thanks to new products such as coconut water and vegetable smoothies. These new products contributed £28m to sales. Revenues reported for last year were £247.4m, a 13% increase on the previous
International Drinks Festival the drinks industry in Nigeria with its major stakeholders. Some of the brands to be showcased include Rémy Martin and Jack Daniel's. The festival also has a long list of partners including DStv, The Guardian (Nigeria), Taxify, The Beat 99.9 FM etc. The maiden edition of the festival was held December 1–3, 2017 at the five-star Federal Palace Hotel, venue of Nigeria's independence day celebrations in 1960. It was to have been hosted by international supermodel, Idia Aisien. International Drinks Festival The International Drinks Festival is a projected annual festival of alcoholic and non-alcoholic beverages both foreign and local to