Fever-Tree has announced a US strategic partnership with Molson Coors for the exclusive sales, distribution and production of the brand in the US.

As a result of the partnership, Molson Coors will acquire an 8.5% stake in the British mixer production firm for £71m.

Fever-Tree stated that since entering the US market in 2008, it has "consistently delivered very strong growth" and has become the "number one tonic and ginger beer brand across America".

It added that the combination with Molson Coors’ "expertise, scale and total beverage ambition” provides a "transformational platform to drive the brand to the next level in its largest and most dynamic market".

In addition to the partnership, Fever-Tree has announced its intention to commence a share buyback programme of £71m, commencing next month.

Co-founder and chief executive officer at Fever-Tree, Tim Warrillow, said: "Today's announcement marks a transformational step for the Fever-Tree brand in the US. Thanks to the superb work of our US team, we have seen Fever-Tree become the number one brand in both the tonic and ginger beer categories, a remarkable achievement which has redefined the US mixer category amongst consumers and customers alike.

“But what is so exciting is that as the Fever-Tree brand has grown in the US, so has the opportunity ahead of us, reflecting the increasing number of categories and occasions that our products are relevant to."

Investment director at AJ Bell, Russ Mould, stated that the new partnership "may well restore some of the fizz Fever-Tree shares enjoyed" a decade ago, as "excitement bubbles about what this venture could mean for the business".

He concluded: "From Molson Coors’ side, shifting consumer habits means there is an incentive for it to diversify its offering and it’s significant that it has seen Fever-Tree as a means of doing so. It shows that for all Fever-Tree’s problems with cost and supply chain issues in recent years, it has built something meaningful with its range of premium mixers.

"While it banks its share of the profit, Fever-Tree will have newly freed-up cash flow which can be potentially returned to shareholders or invested in expanding in other parts of the globe. Molson taking a meaningful stake in the business also underscores its commitment to the partnership and could even translate into a full takeover of the group in time if the arrangement works out well."

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