Fever-Tree co-founder enjoys £73m windfall after selling 3.9% stake in firm
One of the founders of posh mixer maker Fever-Tree is toasting a £73 million windfall after cashing in on the firm's recent success by selling a stake in the group.
Deputy chairman Charles Rolls offloaded a 3.9% stake - almost doubling the number of shares he originally intended to sell after "significant" demand from institutional investors, according to the group.
He sold 4.5 million shares at a price of £16.25 each.
It comes after the tonic water group has seen its share price rise more than 900% since its stock market flotation in late 2014.
Shares in the group have risen more than 50% this year alone.
Mr Rolls continues to own an 11.2% stake in the company following the share sale.
Mr Rolls founded Fever-Tree with Tim Warrillow in 2004.
Named after the tree in which quinine - a key ingredient for tonic - is found, the pair wanted to offer a premium tonic water with no artificial sweeteners, preservatives or flavourings.
They produced their first bottle of tonic water in 2005 and now sell a range of 12 different flavours.
The group has rapidly expanded its international sales in recent years and now makes around 56% of annual revenues from outside the UK, with key overseas markets being the US, Spain, and Belgium.