Fever-Tree fizzes on its stock market debut

It's drinks on the posh tonic maker's founders Charles Rolls and Tim Warrillow.

by Rachel Savage
Last Updated: 23 Mar 2015

Fever-Tree founders Charles Rolls and Tim Warrillow will no doubt be getting the rounds in tonight, after shares in the posh tonic maker fizzed on their first day of trading.

Shares opened 27% higher at 170p, after 60% of the company was floated at 134p a share. They have now settled down around 167p, giving it a market cap of £192m.

Warrillow and Rolls, the former boss of Plymouth Gin, dreamed up the company in 2003 after they spotted a gap in the market for premium mixers. They launched it two years later after tracking down all-natural ingredients, including quinine from the war torn eastern Democratic Republic of Congo.

‘It’s exactly the result we wanted,’ Rolls told MT on Tuesday, when asked why they went for an IPO. ‘It was only on seeing the opportunity that Tim and I could still see out there that we thought we didn’t want to be in one of those auctions like we had 18 months ago when our last private equity owner sold.’

Even after selling off 40% of their stakes in the float, Rolls and Warrillow will both still be a few million richer. Their adviser Investec had gone for a more conservative share price after stock markets hit a storm that prompted challenger bank Aldermore to pull their float and Virgin Money to delay theirs. And if they do feel a little sore at the extra money they could have made selling their stake, it must be a nice pick-me-up to see their company’s shares fizzing away.

Tags:
Enterprise

Find this article useful?

Get more great articles like this in your inbox every lunchtime

C-Suite parents share working at home tips

For many people, the home office is now also a home school.

How to manage remote teams (without becoming a Zoom pest)

Briefing: Former Waitrose boss Mark Price says managers will need to think about how they’re...

Could coronavirus lead to gender equality?

Opinion: Enforced home-working and home-schooling could change the lives of working women, and the business...

Mike Ashley: Does it matter if the public hates you right now?

The Sports Direct founder’s response to the COVID-19 pandemic has drawn criticism, but in the...

4 films to keep you sane during the coronavirus lockdown

Cirrus CEO Simon Hayward shares some choices to put things in perspective.

Pandemic ends public love affair with Richard Branson et al

Opinion: The larger-than-life corporate mavericks who rose to prominence in the 80s and 90s suddenly...