Fever-Tree overtakes Schweppes as America’s leading tonic water brand in huge success for UK firm
Fever-Tree has overtaken Schweppes as America’s leading tonic water brand in a huge success for a UK firm.
The breakthrough comes just over three years after Fever-Tree set up operations in the US, having previously exported mixers across the Atlantic from its base in London.
Fever-Tree has taken American bars and supermarkets by storm, snapping up 26 per cent of the market by last month, against Schweppes on 25 per cent.
Delighted: Fever-Tree’s chief executive and co-founder Tim Warrillow
The brand is already the market leader in the UK but this is the first time it has surpassed Schweppes in the US. Schweppes is sold in America by multi-billion dollar drinks conglomerate Dr Pepper Keurig.
Chief executive and co-founder Tim Warrillow said: ‘The US is often seen as a graveyard for British brands, which makes this milestone even more pleasing.’
The US accounted for £58.5m of its overall £252.1m sales in 2020. Fever-Tree shares have grown 15-fold since the company listed on junior market Aim in 2014, when it was valued at £154m.
Its market value today is just under £3billion.