As the world's leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, we believe that Fever-Tree has the following key strengths:
A STRONG DISTINCTIVE BRAND
Fever-Tree is the leading brand in the premium mixer market internationally.
Protection and enhancement of the brand's market position is a major focus of the Group.
CLEARLY DIFFERENTIATED PRODUCTS WITH PREMIUM PROVENANCE
The Group uses only the highest quality ingredients in its products and the founders continue to travel the globe to track down and source these ingredients.
This premium provenance is a clear differentiator from Fever-Tree's mass-market competition and is key to both product quality and brand image.
FIRST MOVER ADVANTAGE
Fever-Tree was the first mover and innovator of the premium mixer category, which enriches the brand's authenticity and attractiveness to the industry's leading bartenders and trade influencers, as demonstrated by the brand being voted the no.1 best-selling and no.1 trending tonic water for the fourth year running by the World's best bars in Drinks International's Annual Brand Report.
SCALABLE BUSINESS MODEL
The Group's largely outsourced business model, underpinned by strong, well-established relationships with suppliers, bottlers and distributors, allows for scalability and operational flexibility without the requirement for major capital commitment from the Group.
STRONG AND DIVERSE CUSTOMER RELATIONSHIPS
The Group has strong well-established relationships with its network of importers and distributors as well as its On-Trade and Off-Trade customers.
Revenue is diversified across geographies, channels and customers, with no single end customer generating more than 5% of Group revenue.
EXPERIENCED FOUNDER-LED MANAGEMENT TEAM
The Group's management team and Board includes the founders of the business, who have considerable experience in the mixers and premium spirits sectors.
The executive Directors are also supported by experienced operational team as well as outsourced partners with many years' experience in the beverage industry.
STRONG CASH FLOW GENERATION AND ADJUSTED EBITDA MARGINS
The Group requires minimal capital expenditure, and has, to date, achieved strong cash generation. In 2017, operating cash flow was 74% of adjusted EBITDA.
The Group's largely outsourced business model supports its operating margins. In 2017 the Group achieved a gross profit margin of 53.5% and an adjusted EBITDA margin of 34.5% of revenue.