Fever-Tree founder Tim Warrillow sells £29m stake

 
Caitlin Morrison
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Fever-Tree makes premium mixers

Fever-Tree co-founder Tim Warrillow has sold a chunk of his stake in the tonic water manufacturing firm, following positive results from the group yesterday.

He disposed of 1.5m shares at 1,925p, at a total value of £28.9m.

Warrillow now holds 5.4 per cent of the company he helped to establish in 2015, along with Charles Rolls, who sold £73m worth of shares in May this year.

Shares in the group were down 2.6 per cent in early trading.

Bill Ronald, Fever-Tree's non-exec chairman, also sold part of his stake in the firm, bringing the portion he holds to 0.3 per cent.

According to the London Stock Exchange announcement, Warrillow and Ronald have agreed that they will not, without Investec's prior written consent, dispose of further ordinary shares in the company for a period of 12 months (subject to certain customary exceptions).

Fever-Tree yesterday revealed a 77 per cent jump in revenues in the first half of the year.

“We continue to invest and improve our infrastructure, relationships with key suppliers and customers as well as adding to our senior team," Warrillow said of the strong results.

"The strength of our brand and first mover advantage means we are well positioned as the opportunity for premium mixers continues to gather momentum across our key markets."

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