Fever Tree: Off-Premise Channel Update

Former SVP at Total Wine

Fever Tree

Why is this company interesting?

Fever Tree is a founder-led beverage business that sells premium mixers such as tonics, ginger ale, and club soda.

Over the last decade, two tailwinds have fuelled FEVR's ~50% revenue CAGR: premiumisation and spirits winning share from beer and wine. The company defined the UK premium mixer category which accounted for 43% of all mixers in H121. In the US, the premium segment is only 10% but is growing at ~3x the total mixer market.

In 2018, the company launched a national distribution agreement with Southern Glazers, the largest spirits distributor in the US. Fever Tree focused on building the brand equity with premium spirits companies in the on-premise channel and has the longest and deepest relationships with companies like Diageo and Pernod.

Fever Tree is a beverage company that operates closer to a premium spirits business with 30%+ ROE, deep distribution agreements and high brand equity in both channels that provide high barriers to entry for competitors.

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Executive Bio

Former SVP at Total Wine

The executive has over 40 years of retail experience and spent 10 years at Total Wine & More, working directly with the founder. The executive was responsible for everything from merchandising to supply chain and took over many operational duties as the founder stepped away. The executive procured and stocked Fever Tree and many other competing mixers at Total Wine.Read more

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