Fever-Tree has kicked off the year in good shape, telling shareholders it remains confident of meeting full-year expectations and sweetening the news with a fresh £30m addition to its share buyback.
In a statement ahead of today’s AGM, the premium mixer maker said it had made a solid start and continued to push on with its strategic priorities.
Chief among them is the US, where the tie-up with Molson Coors is gathering pace. The partnership has moved past its initial transition phase and is now winning new accounts and building distribution, aided by the brand’s first national US marketing campaign, which rolled out across TV, digital, and e-commerce in April alongside a nationwide sampling push.
Closer to home, Fever-Tree is leaning harder into its drink-it-any-way message. A new UK campaign, positioning the brand as both a mixer and a premium soft drink in its own right, also launched in April.
Australia remains a bright spot, with the premium soft drinks range driving momentum and a new Lemon, Lime & Bitters launched in partnership with Angostura.
Tim Warrillow, CEO of Fever-Tree, said: “We have continued to make good progress against our strategic priorities so far this year. Fever-Tree is well placed to drive long-term growth across our markets as both a premium mixer and soft drink brand and this year we are significantly increasing marketing investment and innovating to support our growth ambitions.