Thursday, 25 May 2017

Fever-Tree founder toasts £73m share sale

One of the co-founders of upmarket mixer drinks maker Fever-Tree has netted £73m after selling a 3.9% stake in the company.

Deputy chairman Charles Rolls almost doubled the number of shares he intended to sell following "significant" demand from investors.

He sold 4.5 million shares at £16.25 each, but retains an 11.2% stake.

The tonic water group has seen its share price rise more than 900% since it floated in late 2014.

This year alone shares in the group have risen more than 50%.
Fever-Tree's international sales have expanded rapidly, and more than 50% of its revenues now come from outside the UK.

Mr Rolls founded the company with Tim Warrillow in 2004. It is named after the colloquial term for the cinchona tree, from whose bark the natural anti-malarial drug and core tonic water ingredient, quinine, is produced.

The pair wanted to produce an upmarket tonic with no artificial sweeteners, preservatives and flavourings.

BBC      News.