Fever-Tree's founder nets a windfall selling double the shares he announced

Fever-Tree's shares were down more than five per cent this morning, as one of its founders sold double the amount of shares he had initially planned to.

Charles Rolls, who is also Fever-Tree's non-executive deputy chairman, made £82.5m today from selling 3m shares – significantly more than the 1.5m he said he would earlier this month.

Fever-Tree said the hike in the number of shares sold – which constitutes 2.6 per cent of the company – was down to "significant institutional demand". Rolls still holds 8.6 per cent of the company's shares.

He sold the partial stake at a price of £27.50 per share. In morning trading today, shares were hovering around £27.92 – down from the £29.57 closing price yesterday.

Fever-Tree, which is most famous for its premium tonic mixer, saw its shares slide earlier this month as investors cashed in after strong results.

However since its float in 2014, the business has seen its share price climb by more than 1,000 per cent as it has benefited from a resurgence in the popularity of gin.

Before founding Fever-Tree, Rolls was best known for turning around gin brand Plymouth Gin.

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