British mixer brand Fever-Tree is feeling good about its collaboration with Molson Coors as it posted 4% revenue growth in the U.S. in its first half 2025 earnings results last week.
Although total brand revenue was generally flat for the first six months of the year at £171 million (about $232.6 million), compared with £170.6 million in 2024, the U.S. served as a bright spot for the brand’s performance as sales surpassed £62.4 million ($84.9 million).
Comparatively, U.K, sales dropped by 6% and European revenue was down 1%.
Rollout of the company’s national distribution partnership with Molson Coors only began in June, and co-founder and CEO Tim Warrillow noted that the results “still largely reflect the legacy Fever-Tree stand-alone model.”
“The transition of the business to Molson Coors is progressing well and despite the complexity of such a transition, it has been particularly encouraging to see the underlying U.S. momentum has been maintained, a real testament to the hard work of both teams as well as the strength of the Fever-Tree brand,” said Fever-Tree co-founder and CEO Tim Warrillow in a statement.
Molson Presents Big Upsides
Fever-Tree struck the Molson deal in January, giving the beer giant exclusive distribution and production rights for the brand in the U.S.
In a deck accompanying the earnings call, the company noted that Molson Coors allows for high-frequency account visits which are “ideal for Fever-Tree’s rate-of-sale” at both on- and off-premise locations. The partnership is contributing to broader scaling efforts by the company, while a “substantial incremental marketing fund [provides] the firepower to drive further brand and category awareness.”
As well, the shift to U.S. production by Molson will help to reduce lead times as well as avoid larger issues with rising trans-Atlantic freight costs and tariffs.
Calling the partnership a “revenue growth multiplier,” Warrillow also highlighted the expanded footprint Molson can open up for Fever-Tree, including 400 independent distributors which service over 500,000 accounts and make 30,000 deliveries per day.
“By leveraging Molson Coors’ senior customer relationships and category management expertise, we can increase the number of Fever-Tree products stocked per account, not just Tonic, but across our wider portfolio, which over time may also open up opportunities in adjacent categories such as non-alcohol and ready-to-drink,” he said on the call. “Their ability to increase visit frequency, improve in-store execution, secure better placement and grow off-shelf space is combined with a step change in marketing investment.”
Warrillow said the initial focus has been primarily on on-premise and liquor channels, with Molson now beginning to take over retail accounts in the second half of the year.
As well, the former Fever-Tree U.S. team has been integrated into Molson Coors’ non-alc division.
“We’ve spent a lot of time looking at our partners and ensuring we’ve got the right partner for the right age and the right stage of the brand,” he added. “And so this is something that we will continue to do quite vigorously, but we’ll also be keeping this sort of partnership structure very much in mind because we certainly think it’s a great blueprint as we look to the future.”
U.K. Has Mixed Results
In the U.K., Warrillow noted that on-premise sales have faced difficulties, but retail has “remained robust” while the company has emphasized premiumization and marketing around social occasions to help boost sales.
“More than half of the 3.6 million U.K. households that buy Fever-Tree are now also purchasing products from our broader portfolio such as our Ginger Beer or premium soft drinks, a clear sign that our diversification strategy is resonating with consumers and broadening the occasions in which our brand is enjoyed,” he said.