Luxembourg, 23 April 2023: Sterling Active Fund (“SAF”) confirms that on the 23rd of April 2023, it successfully exited its position in Fevertree plc (“Fevertree”), marking it the sixth successful exit by SAF.

Fevertree is the market leader in the premium mixer drinks category with a strong brand and distinctive provenance of its naturally sourced ingredients.

The investment in Fevertree was a “hidden value” case for SAF. The opportunity lied in the share price downturn triggered by disappointing margin performance and operational challenges in the US market. The Company was affected by supply chain issues caused by the Covid pandemic at the critical point of its expansion plan in the US market, resulting in an increase in glass and labour costs and lower operating margins. The share price negative performance created an attractive investment opportunity considering the Company’s distinctive brand quality, strong innovation and marketing capabilities and the premium mixer segment growth prospects.

In April 2023, the Company share price reached SAF’s target price expectation and we decided to sell the investment after 7 months. SAF made a high double-digit return on this investment.


Fevertree plc, is the global leader in premium mixers for drinks. The company is listed in the UK and present with its products in 75 countries.

Sterling Active Fund, is the second fund launched by Sterling Strategic Value in October 2020. SAF is open for subscriptions.

Sterling Strategic Value, is one of Europe’s oldest Activist investors founded in 1999 and with a track record of over 50 successful activist investment entry and exits.