Fever-Tree

Last updated

Fevertree Drinks plc
Fever-Tree
Company type Public
LSE:  FEVR
ISIN GB00BRJ9BJ26
IndustryDrinks Manufacturing
Founder
Headquarters Hammersmith, London, England, United Kingdom
Area served
74 countries worldwide
Key people
RevenueIncrease2.svg £260.5 million (2019)
Decrease2.svg£72.2 million (2019)
Decrease2.svg£58.8 million (2019)
OwnerCharles Rolls (7.06%)
Tim Warrillow (4.7%)
Number of employees
Increase2.svg176 (2019)
Website www.fever-tree.com OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[2] [3] [4]

Fevertree Drinks plc, known as Fever-Tree, is a British producer of premium drink mixers, founded by Charles Rolls and Tim Warrillow in 2004. [5]

Contents

History

Fever-Tree was founded by gin industry expert Charles Rolls and advertising executive Tim Warrillow in 2004. [6] [7] [8] The duo shared a desire to create the perfect all-natural tonic water mixer, [9] producing a premium option to standard mixers available on the market without high quantities of preservatives and artificial sweeteners. [10] [11] Following an excursion to the Democratic Republic of the Congo, [8] and several months of development and experimentation with different botanicals, the first product; Fever-Tree Indian Tonic Water was launched in 2005, [12] with their products listed in Selfridges and Waitrose stores. [13]

In 2006, the company received investment from London & Lochside, a venture capitalist.

In 2007 Fever-Tree launched in the United States of America and Spain, and in 2008 had listed products with the Sainsbury's and Tesco U.K. supermarkets.

By 2011 Fever-Tree became recognised as one of the fastest growing UK drinks companies by being included in the Sunday Times Fast Track 100 list. Their distribution range had expanded to 25 countries in the same year. This led to growth in foreign sales, with an increase of 94% annually between 2008 and 2010, from £1.1 million to £4.4 million. [14]

In March 2013, the founders sold 25% of the company to Lloyds Development Capital, [5] and London & Lochside exited its holding with the business. In November 2014, the company floated on the London Stock Exchange [15] under the ticker symbol LSE:FEVR; the IPO valued Fever-Tree at £154.4m. [16] As of 2019, its market value had increased elevenfold since its 2014 listing. [17]

Since its initial offering, the company has expanded its product line to include a wider range of mixers including ginger ale, ginger beer, lemonade and flavoured tonic and soda water. [18] [10]

In January 2022, the company launched its product range in South Korea. [19] [20] In September, as part of its expansion in the US, Fever-Tree announced its acquisition of Powell & Mahoney mixers for $5.9 million. [21] [22] Within the same year, Rolls retired from his position as non-executive deputy chairman of Fever-Tree. [23]

In July 2024, Fever-Tree was reported to have sponsored the Republican Party Convention in Wisconsin. [24] However, the company later clarified that it had only supplied free products to the venue, along with many other venues that were existing customers, and that it was not a sponsor of the convention. [25]

Name origin

The company's name comes from its initial product, a tonic water. The tonic is flavoured with quinine, a chemical extracted from the bark of the South American cinchona tree. [26] When introduced to India as a pharmaceutical to aid in reducing the fever associated with malaria, quinine was blended with soda water and sugar to make it more palatable, producing the earliest tonic water. [27] The cinchona tree has been referred to in India as the fever tree. [28]

Products

Based in west London, Fever-Tree makes a variety of beverages, including tonic water, ginger beer and lemonade. As of 2023, Fever-Tree products are exported to and available in over 80 countries. [12]

Products are manufactured in Somerset. [29] The range includes:

Partnerships

Fever-Tree has established strategic partnerships with various distilleries and bars in recent years.

In 2013 Fever-Tree began actively supporting the non-profit organisation Malaria No More; a charitable organisation dedicated to eliminating Malaria. [18]

In 2018, Fever-Tree announced a three-year collaboration with the Lawn Tennis Association, [37] serving as title-sponsor. [38] In addition, in August of the same year, Fever-Tree entered into a distribution agreement with Southern Glazer's Wine & Spirits, the largest distributor of alcholoic beverages in North America. As a result, Fever-Tree secured exclusive on-premise channel distribution in 29 states. [39] The following month, Fever-Tree launched its citrus tonic water partnership with Bacardi's Patrón Tequila. [31] [40]

In 2019 the British coffee chain Caffe Nero partnered with the company to sell two variations of the drink espresso and tonic across its outlets. [41]

In 2022, the leading multi-channel foodservice provider for UAE, Bidfood UAE, became the exclusive distributor of the Fever-Tree products in the United Arab Emirates. [42] In the same year, Fever-Tree sponsored the Time Out Hong Kong Bar Awards. [43]

In 2023, in combination with Chemist Spirits, Fever-Tree opened its first U.S. Rooftop Botanical Bar Experience in North Carolina. [44] [45]

In July 2024, Fever-Tree partnered with the Milwaukee Host Committee [46] who raise funding for, and oversee the Republican Party Convention in Wisconsin. [24]

Recognition and awards

Fever-Tree's drink mixers have won "Outstanding Cold Beverage" in the sofi Awards in 2010, 2011, and 2012. [47]

2014

Awarded Best Brand in The Sunday Times Fast Track 100 Fastest Growing Companies. [13]

2015

Drinks International Award for bestselling and top trending mixer brand. [19] [42] [48]

2016

Drinks International Award for bestselling and top trending mixer brand. [19] [42] [48]

2017

Drinks International Award for bestselling and top trending mixer brand. [19] [42] [48]

2018

Drinks International Award for bestselling and top trending mixer brand. [19] [42] [48]

2019

Queen's Award for Enterprise, an honour given to companies that excel in international trade, innovation, and sustainable development.

Drinks International Award for bestselling and top trending mixer brand. [19] [42] [48]

2020

Drinks International Award for bestselling and top trending mixer brand. [19] [42]

2021

Drinks International Award for bestselling and top trending mixer brand. [19] [42]

2022

Drinks International Award for bestselling and top trending mixer brand. [19] [42]

Lloyds Bank British Business Excellence Award; The Department for International Trade Exporter of the Year Award. [49]

The King's Award for Enterprise: International Trade for Outstanding Continuous Growth. [50]

Awarded Highly Commended in the 2022 Footprint Drinks Sustainability Awards. [51]

2023

Good Housekeeping Institute Award for Best Mediterranean Tonic Water. [52]

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Timothy Daniel Gray Warrillow is a British businessman, and co-founder and CEO of the drinks brand Fever-Tree.

References

  1. ↑ Emler, Ron (27 March 2023). "Fever-Tree paints a 'fast-improving picture' of profits". the drinks business. Retrieved 26 October 2023.
  2. ↑ "Companies House Company Profile" . Retrieved 11 July 2020.
  3. ↑ "Fever-tree Annual Report 2019" (PDF). Retrieved 11 July 2020.
  4. ↑ "Contact Us". Fever-Tree. Retrieved 22 April 2020.
  5. 1 2 Shaw, Lucy (13 March 2013). "Fever-Tree tonic sells stake for £12m". The Drinks Business . Retrieved 10 April 2013.
  6. ↑ "The Story of Fever-Tree Tonic Water - Great British Chefs". www.greatbritishchefs.com. Retrieved 25 October 2023.
  7. ↑ Atkinson, James (21 October 2020). "How Fever-Tree revolutionised mixers, with founder Tim Warrillow: S7E2". Drinks Adventures Podcast. Retrieved 25 October 2023.
  8. 1 2 "Flying off the scale: Fever-Tree's Tim Warrillow talks malaria, crane strikes and private equity". CityAM. 25 May 2015. Retrieved 26 October 2023.
  9. ↑ "Brand Audit: Fever-Tree". Amati and Associates. Retrieved 25 October 2023.
  10. 1 2 Lindenberger, Hudson. "Fever-Tree And It's [sic] Co-Founder Tim Warrilow Are Still Challenging Industry Norms". Forbes. Retrieved 25 October 2023.
  11. ↑ "In the mix: How Fever Tree revived the mixer drink market - Food & Drink Business". www.foodanddrinkbusiness.com.au. Retrieved 26 October 2023.
  12. 1 2 Young, Andy (20 June 2023). "Understanding the history of Fever-Tree with Co-Founder Tim Warrilow". Bars and Clubs. Retrieved 25 October 2023.
  13. 1 2 "Fever Tree | Our History". fever-tree.com. Retrieved 26 October 2023.
  14. ↑ "The Sunday Times International Track 100" (PDF). The Sunday Times : 2–3. 8 May 2011. Archived from the original (PDF) on 10 June 2012. Retrieved 10 April 2013.
  15. ↑ "Eight West Midlands companies among UK's fastest-growing | TheBusinessDesk.com". West Midlands. 1 December 2017. Retrieved 26 October 2023.
  16. ↑ Fletcher, Nick (26 July 2017). "Fever-Tree co-founder toasts £29m payout as shares hit record high". The Guardian. ISSN   0261-3077 . Retrieved 26 October 2023.
  17. ↑ "Fevertree loses its sparkle as Britons' taste for premium tonic sours". Reuters. 20 January 2020. Retrieved 26 October 2023.
  18. 1 2 Fields, Jessica (14 January 2022). "8 Things You Should Know About Fever-Tree". VinePair. Retrieved 25 October 2023.
  19. 1 2 3 4 5 6 7 8 9 "Fever-Tree launches in South Korea for the first time - Drinks International - The global choice for drinks buyers". drinksint.com. Retrieved 26 October 2023.
  20. ↑ Liang, Alice (27 January 2022). "Fever-Tree expands into South Korea". The Drinks Business. Retrieved 26 October 2023.
  21. ↑ Brooker, Alice (15 September 2022). "Fever-Tree buys Powell & Mahoney mixers". The Spirits Business. Retrieved 26 October 2023.
  22. ↑ "Fever-Tree Quietly Acquires Powell & Mahoney Cocktail Mixers". BevNET.com. 14 September 2022. Retrieved 26 October 2023.
  23. ↑ "The Drinks Industry Rich List 2022". Inside the Cask. 22 May 2022. Retrieved 26 October 2023.
  24. 1 2 Pandey, Maia. "Which companies are RNC Host Committee sponsors?". Milwaukee Journal-Sentinel. Retrieved 18 July 2024.
  25. ↑ Beeson, James (22 July 2024). "Fever-Tree backlash shows the damaging nature of trial by social media". The Grocer . Retrieved 8 November 2024.
  26. ↑ "Fever-Tree co-founder toasts £82.5m payday from selling shares". The Guardian. Press Association. 23 March 2018. ISSN   0261-3077 . Retrieved 25 October 2023.
  27. ↑ "Why is it called Fever Tree?". Wild Thyme Spirits. Retrieved 25 October 2023.
  28. ↑ "Fever Tree - History". Saksham Impex Private Limited. Retrieved 25 October 2023.
  29. ↑ "Company Profile - Fever-Tree". The Grocer. 3 March 2008. Retrieved 10 April 2013. The normal Fever tree Tonic is manufactured in the Netherlands.
  30. ↑ "The Latest News, Events and Announcements from Fever-Tree". Archived from the original on 31 January 2016.
  31. 1 2 Carruthers, Nicola (12 September 2018). "Patrón and Fever-Tree launch citrus tonic for Tequila". The Spirits Business. Retrieved 26 October 2023.
  32. ↑ Nichols, Allyson (14 July 2021). "Fever-Tree Launches Distillers Cola Nationwide For Whiskey Cocktails". The Whiskey Wash. Retrieved 26 October 2023.
  33. 1 2 Wright, Ben (24 March 2023). "The British brand battling to be in the world's gin and tonics". The Telegraph. ISSN   0307-1235 . Retrieved 26 October 2023.
  34. 1 2 3 "Fever-Tree Launches Three New Ginger Expressions". BevNET.com. 21 March 2019. Retrieved 26 October 2023.
  35. ↑ Fever-Tree. "Fever-Tree Launches NEW Blood Orange Ginger Beer". www.prnewswire.com (Press release). Retrieved 26 October 2023.
  36. 1 2 3 "Fever-Tree Mixes It Up With Launch of New Cocktail Mixer Range". Yahoo Finance. 25 April 2023. Retrieved 26 October 2023.
  37. ↑ French, Phoebe (21 March 2018). "Fever-Tree to sponsor The Queen's Club tennis tournament". The Drinks Business. Retrieved 26 October 2023.
  38. ↑ "Fever-Tree Tennis Championships In London Voted ATP-500 Men's Tournament Of The Year Again In 2018". 10sBalls.com • TennisBalls.com. 10 November 2018. Retrieved 26 October 2023.
  39. ↑ "Fever-Tree Announces Distribution Agreement with Southern Glazer's Wine & Spirits". BevNET.com. 3 August 2018. Retrieved 26 October 2023.
  40. ↑ "Fevertree Bets on Premium Tequila in Bacardi Collaboration". Bloomberg.com. 12 September 2018. Retrieved 26 October 2023.
  41. ↑ Woolfson, Daniel. "Fever-Tree partners with Caffè Nero for 'Espresso & Tonic' drinks". The Grocer. Retrieved 19 November 2023.
  42. 1 2 3 4 5 6 7 8 9 "Bidfood signs exclusive on-trade distributorship for Fever-Tree products in the UAE". Hotel News ME. 21 June 2022. Retrieved 26 October 2023.
  43. ↑ "Save the date for Time Out Hong Kong Bar Awards 2022". Time Out Hong Kong. 28 November 2022. Retrieved 26 October 2023.
  44. ↑ "Fever-Tree, the World's Leading Premium Mixer Brand, Opens Its First U.S. Rooftop Botanical Bar Experience with Chemist Spirits in Asheville, North Carolina: Chemistspirits-Bar". PR Newswire US. 11 May 2023.
  45. ↑ "Fever-Tree Opens Its First U.S. Rooftop Botanical Bar Experience with Chemist Spirits in Asheville, North Carolina". BevNET.com. 12 May 2023. Retrieved 26 October 2023.
  46. ↑ https://mke2024host.org/ [ bare URL ]
  47. ↑ "2012 sofi awards - Fever-Tree Mediterranean Tonic". foodspring.com. Retrieved 10 April 2013.
  48. 1 2 3 4 5 Redaktion (11 January 2019). "Fever-Tree ist erneut "Tonic of Choice" in den besten Bars der Welt". about-drinks.com (in German). Retrieved 26 October 2023.
  49. ↑ Yedroudj, Latifa (14 November 2022). "Lloyds Bank British Business Excellence Awards 2022". Elite Business Magazine. Retrieved 26 October 2023.
  50. ↑ "Best of British business celebrated as the first King's Awards for Enterprise Recipients revealed". GOV.UK. Retrieved 26 October 2023.
  51. ↑ "The 2022 Footprint Drinks Sustainability Awards in association with C&C Group PLC Winners Announced". Foodservice Footprint. 21 September 2022. Retrieved 26 October 2023.
  52. ↑ "10 best tonic waters for delicious G&Ts". Good Housekeeping. 4 May 2023. Retrieved 26 October 2023.
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