Fever-Tree co-founder makes £29m from shares sales

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Tim Warrillow co-founder and chief executive of Fever-Tree sold 1.5m shares yesterday to make a cool £29m after responding to demand from investors. 

In their interim results the company reported a 77 per cent growth in revenue to £71.9m in the first six months of the year yesterday which resulted in the share price increasing to a record high.

The sale leaves Warrillow with a 5.4 per cent stake in the high end tonic mixer company.

Co-founder Charles Rolls who holds the most shares with an 11.2 per cent stake also sold shares earlier this year netting him £73m.

A spokesperson for Warrillow said: “There remains considerable demand from institutions both in UK and US for sizeable blocks of Fever-Tree shares and therefore Tim took the decision to provide some further liquidity in the register in response to this.”

Warrillow said of the interim results: “We are delighted to report another strong performance in the first half of 2017. We achieved growth in all our regions, driven by further distribution gains and underlying rate of sales growth as the two key trends of premiumisation and mixability continue to gather pace globally.”

Rolls and Warrillow founded the company in 2004 travelling the world to find the best ingredients to produce premium quality tonics.

The company’s success has been in part thanks to the continuing popularity of drinks such as gin and tonic where the UK remains a key market.

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