LONDON — Fever-Tree co-founder and CEO Tim Warrington sold a £28.9 million stake in the luxury tonic maker, a day after the company posted record profits.
Warrington sold 1.5 million shares at £19.25 a pop, leaving him with a 5.4% stake in the company, or around 6.2 million shares.
Fever-Tree said on Tuesday that profits rose 104% to 24.9 million, following growing demand for high-end spirits and mixers.
Earlier this year, Charles Rolls, co-founder and non-executive deputy chairman of Fever-Tree made £73 million by selling a 3.9% stake in 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.”
Shares have boomed in the mixer-maker, which is now worth more than £2 billion.
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