US boosts Fever-Tree sales in 2025 as UK wanes
After a flat first-half performance, tonic and mixer producer Fever-Tree grew its full-year revenue by 2%, but the UK remained in decline.
UK-based Fever-Tree provided its full-year sales performance for 2025 in a pre-close trading update published yesterday (29 January). The first half of the year saw the group record stagnant results, with the US helping to offset a challenging UK – Fever-Tree’s second-biggest market after the States.
The group’s total revenue last year grew by 2% to £375.3 million (US$516.5m), driven by growth in the US and a double-digit gain in the rest-of-the-world (ROW) region.
Fever-Tree struggled in its home market with UK revenue falling by 2% to £108.4m (US$149.2m), but noted that trading had improved in the second half of the year.
Its UK performance was led by the ‘robust’ off-trade, with growth coming from beyond its tonics, helped by the group’s premium soft drinks line.
The US grew by 3% to £131.9m (US$181.7m) while the ROW region soared by 17% to £37.7m (US$51.9m), boosted by Australia, New Zealand and Canada.
In January 2025, Fever-Tree agreed to sell an 8.5% stake to brewing giant Molson Coors for £71m (US$88.4m) to “take the brand to the next level” in the US.
Fever-Tree CEO Tim Warrillow said the business made “excellent progress” last year.
“Our partnership with Molson Coors in the US is progressing well, and the momentum behind the brand is especially encouraging, giving us confidence in the growing opportunity in our largest market as execution moves beyond the transition phase.”
Broadening beyond tonic
Meanwhile, full-year revenue for the Fever-Tree brand in Europe was up by 2% to £94.7m (US$130.4m) after a ‘strong performance’ in France and Benelux.
“Across all our markets, we are continuing to build momentum as we broaden Fever-Tree beyond tonic, positioning the brand as not only the premium mixer but also the premium soft drink of choice,” Warrillow added.
“We are uniquely positioned to unlock the growth opportunities afforded by the consumer trends towards moderation, premiumisation and longer, lighter serves.
“With exciting marketing campaigns and a strong innovation pipeline, delivered by our passionate team, I am confident we will drive strong growth in 2026 and beyond.”
Fever-Tree noted that the transition into Molson Coors’ distribution network in the US, alongside an ‘upweighted marketing investment’, would lead to a ‘strong platform’ for the year ahead.
In September 2025, Fever-Tree noted that its £100m (US$135.8m) share buyback programme was progressing well. The company previously announced it would extend the scheme by a further £30m (US$40.7m), with the latest trading update confirming it would begin in February 2026.
The group also stated that it would comfortably meet its current 2026 market expectations.
Fever-Tree intends to announce its preliminary results on 24 March 2026, when details of its second-half performance from last year are expected.
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