As the gin renaissance continues, one company is reaping the benefits.
Charles Rolls, co-founder and non-executive deputy chairman of upmarket Fever Tree tonic water brand, has made £73 million ($US95 million) by selling 3.9% of the shares in the company.
According to the company, Rolls sold 4.5 million shares at a price of £16.25. He had originally only planned to sell 2.5 million shares, but sold more “due to significant institutional demand.”
Rolls retains a stake of 11.2% in the company.
Fever Tree launched in 2005 with the aim of providing “high quality mixers” to cater for the growing demand of premium spirits — gin in particular.
In March, co-founder and chief executive Tim Warrilow told The Telegraph that the company had an “exceptional” year of sales growth.
Its revenue stood at £102.2 million in 2016, up 73% from £59.3 million in the previous year. Pre-tax profits also rose 105% to £34.3 million last year.
Business Insider Emails & Alerts
Site highlights each day to your inbox.