According to Fever-Tree, GDP’s established management, distribution relationships and sales channels will allow the group to accelerate the strength and depth of its presence in Germany.
The total consideration for the acquisition comprises €2.6m cash, plus a €5m consolidation of historic balances owed to Fever-Tree by GDP at completion.
Alongside this, Fever-Tree has agreed to fund the repayment of €1.9m of shareholder and other third-party loans owed by GDP.
“The completion of the GDP acquisition is an important step as we execute our growth plans in Germany, providing us with an ideal platform to take advantage of the opportunity within the German market and accelerate our growth,” said Tim Warrillow, CEO of Fever-Tree.
“I have worked closely with Morgan Zuill and his team at GDP since we first entered the German market and have been impressed with their approach and expertise in growing the Fever-Tree brand, so I am delighted that they are joining the Fever-Tree team.”
