London Stock Exchange welcomes Fevertree Drinks to AIM
London Stock Exchange today welcomed Fevertree Drinks plc (“Fever-Tree” or the “Group”) to an opening ceremony, marking the admission of its shares to trading on the AIM market.
Fever-Tree is the world’s leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, with distribution to approximately 50 countries internationally. Based in the UK, the brand was launched in 2005 by Co-founders Charles Rolls and Tim Warrillow to provide high quality, natural mixers which could accompany the growing demand for premium spirits.
Fever-Tree now sells a range of 12 differentiated flavours to hotels, restaurants, bars and cafes (“On Trade”) as well as retail outlets around the world (“Off Trade”). Approximately 70 per cent. of the Group’s sales were derived from outside of the UK in FY13 with the key overseas markets being the US and mainland Europe.
The Company has raised gross proceeds of approximately £93.3 million, of which £4 million is for the benefit of the Company and approximately £89.3 million is for the benefit of selling shareholders. Based on the Placing Price, the market capitalisation of Fever-Tree on admission will be approximately £154.4 million.
Tim Warrillow, Co-founder and Chief Executive Officer, said:
“We are delighted to announce that our IPO has been successfully received after experiencing strong demand despite the difficult market conditions. We believe today’s listing will enhance the Company’s exciting international growth opportunities. We very much look forward to building on our market-leading position as a quoted company.”
Investec Bank plc acted as Nominated Adviser and Broker to the Company.