Fever-Tree co-founder toasts £82.5m windfall on share placing

Fever-Tree co-founder Charles Rolls is toasting an £82.5m payday after cashing in on the mixer-maker's dizzying share price rise.

Mr Rolls, the deputy chairman of the company sold a 2.6% stake, or three million shares, in the company in a stock market placing.

He had only intended to sell half that but increased the amount of stock he disposed of after "significant" demand from institutional investors, the company said.

Fever-Tree's share price has risen by more than 1,000% since its stock market flotation in late 2014 with a 90% increase in the last 12 months alone.

Last year, Mr Rolls banked £73m in another shares sale.

He continues to own an 8.6% stake in the group.

Fever-Tree makes premium tonic water with no artificial sweeteners, preservatives or flavourings, cashing in on the demand in recent years for upmarket gin.

Its main manufacturing site is in Shepton Mallet in Somerset.

Mr Rolls and fellow founder Tim Warrillow produced the company's first bottle in 2005. It now sells a range of 14 different flavours in markets from the UK to the US, Spain and Belgium.

It is looking to replicate its success with gin mixers to create drinks that go with dark spirits such as rum and whisky.

Fever-Tree, named after the plant that produces the key tonic water ingredient quinine, is now one of the largest companies on London's junior AIM market, with a market value of around £3.4bn.

Earlier this month it reported a 64% rise in annual profits to £56m.

Shares (Berlin: DI6.BE - news) were down 5% on the announcement of Mr Rolls's share placing.