Photo: Sarah Rowland
One of the founders of the tonic drink company cashed in on his company’s recent success by selling a stake in the group.
Deputy Chairman, Charles Rolls, sold a 2.6% stake. This equated to him nearly doubling the amount of shares he originally intended to sell. The demand from investors was the main reason for his decision.
All in all, Charles sold three million shares at 2,750p per share. Fever-Tree‘s share price rose 1,000% since its stock market flotation in late 2014. Shares have risen more than 90% in the last year.
Charles will continue to own an 8.6% stake in the company.
Last year he gained £73 million from another shares sale.
He founded the company along with Tim Warrillow in 2005 and currently sells 12 different flavours. Fever-Tree offers premium tonic water with no artificial sweeteners, preservatives or flavours. Tim Warrillow himself saying, “If 3/4 of your gin and tonic is the tonic, make sure you use the best.”
Outside of the UK, their key markets are the US, Spain and Belgium.