March 9/M2 EquityBites -- Soft drinks giant Coca-Cola has made an approach to buy a minority stake in Innocent Drinks, the smoothie-maker founded by three Cambridge University graduates.

No financial details of the transaction were disclosed.

It is understood that Coca-Cola is among a number of potential bidders for the holding, which is being sold by the founders of Innocent as they look to raise funds for international expansion. Talks are understood not yet to be at an exclusive stage.

Several investment firms have also expressed an interest in acquiring a minority stake in Innocent Drinks, including Bridgepoint and Darwin Private Equity.

From the March 16, 2009, Prepared Foods E-dition