Fever-Tree Drinks said it reached a long-term partnership with Molson Coors to boost growth in the U.S. and that it would launch a share buyback. The London-listed mixer-maker on Thursday said Molson Coors would acquire an 8.

The Coors Light manufacturer’s 8.5% stake in the nonalcoholic carbonated mixer, worth $89 million, further builds on its long-term strategy of increasing its exposure beyond beer.

Molson Coors Beverage Company has announced a strategic partnership with Fever-Tree in the US, aiming to fuel its premiumisation and ‘Beyond Beer’ strategies. Through the deal, Molson Coors will assume exclusive commercialisation rights to Fever-Tree’s range of tonics, ginger beers, cocktail mixers and more in the US, starting from 1 February 2025.

Molson Coors Beverage (NYSE:TAP) has agreed to acquire an 8.5% stake in Fevertree Drinks, becoming its largest shareholder, as the Coors Light beer maker looks to expand its U.S. non-alc portfolio through a new strategic partnership,

As part of the agreement, the beer giant will manage the sales, distribution and production of Fevertree’s products in the US.

Shares of Fevertree Drinks surged almost 24% yesterday after Molson Coors took an 8.5% stake in a $88m deal that gives the beer giant exclusive rights to market the UK company's cocktail mixers and tonic water in the US.

Molson Coors has acquired an 8.5% stake in British drinks company Fever Tree in a £71m deal that enables the mixer brand to “unlock growth” across the US.

Miller Lite brewer Molson Coors (TAP) says it will expand its U.S. soft drinks business through a strategic partnership with UK-based