Yahoo Finance Fever-Tree co-founder toasts £30m pay-day as he sells 1.5m shares
The chief executive and co-founder of premium drinks brand Fever-Tree is almost £30m richer this morning after cashing in on 1.5m shares in the rapidly growing company.
Tim Warrilow’s decision to sell part of his stake comes a day after Fever-Tree’s share price soared by a further 20pc following yet another upgrade to its profit forecasts.
The company, which sells posh tonic water, has consistently smashed expectations and its share price is now 15 times higher than when it floated in late 2014.
Mr Warrilow’s decision to offload 1.5m shares, for £28.9m, reduces his stake in Fever-Tree to 5.4pc.
It follows a similar move by co-founder Charles Rolls, who cashed in on a stake of around 4pc in the company for more than £70m earlier this year.
Asked by the Telegraph on Tuesday if he was planning on following in Mr Rolls’s footsteps, Mr Warrilow said: “As you can imagine that’s not something I discuss... but you have to look at these things depending on the situation."
Non-executive chairman Bill Ronald has also sold some of his stake, generating around £1m by offloading 50,000 shares.
Fever-Tree, which was the best performing stock on London’s junior Aim market last year, has capitalised on the spectacular growth in demand for gin to such an extent that the company is now responsible for 99pc of all growth in the UK mixer category.
In Tuesday’s interim results, it said it was upgrading its forecasts after a 77pc spike in revenues to £71.9m, compared to £40.6m in the first half of 2016.
