From “This Is The Right Time” (February 2025): “While the U.S. was, and is, tracking to become the cornerstone of Fever-Tree’s business (FEVR), the picture underneath the surface revealed much that needed to be changed / improved to live up to that vision… With this deal, they will be offloading many of those challenges to Molson Coors (TAP)… On my investment, a reminder that I more than doubled the FEVR position in January. Future buy or sell decisions will largely depend on my evolving views on the TAP deal.”
If you asked me to present a single image or dataset for Fever-Tree that succinctly captures my long-term investment thesis, this would be it: