- The company’s deputy chairman, Charles Rolls, offloaded a 2.6 per cent stake
- He sold 3million shares at a price of 2750p each
- The group’s share price has risen more than 1,000% since its float in late 2014
Fever-Tree’s deputy chairman, Charles Rolls
One of the founders of Fever-Tree is toasting an £82.5million payday after cashing in on the firm’s recent success by selling a stake in the group.
The mixer-drinks company’s deputy chairman, Charles Rolls, offloaded a 2.6 per cent stake – almost doubling the number of shares he originally intended to sell after ‘significant’ demand from institutional investors, the Stock Exchange said.
He sold 3million shares at a price of 2750p each.
The tonic water group’s share price has risen more than 1,000 per cent since its stock market flotation in late 2014.
Shares in the group have risen more than 90pc over the past 12 months alone.
They did close down yesterday, however, falling 5 per cent, or 150p, to 2807p.
Rolls continues to own an 8.6 per cent stake in Fever-Tree.
Last year he banked £73million from another shares sale.
Named after the tree in which quinine – a key ingredient for tonic – is found, the company wanted to offer a premium tonic water with no artificial sweeteners, preservatives or flavourings.
The drinks company is named after the tree in which quinine – a key ingredient for tonic – is found
After making his name running Plymouth Gin, Rolls, along with co-founder Tim Warrillow, whose background was in luxury food marketing, produced the group’s first bottle of tonic water in 2005, and now sells a range of 12 flavours.
The group has expanded its international sales in recent years and makes the bulk of annual revenues from outside the UK, with key overseas markets being the US, Spain and Belgium.