TAP expands its non-alcoholic portfolio with a strategic partnership and investment in Fever-Tree, targeting growth in the U.S. market.

Fever-Tree Drinks said it reached a long-term partnership with Molson Coors to boost growth in the U.S. and that it would launch a share buyback. The London-listed mixer-maker on Thursday said Molson Coors would acquire an 8.

By Shashwat Awasthi (Reuters) -Shares of Fevertree Drinks surged almost 24% after Molson Coors' took an 8.5% stake in the firm, in a deal giving the beer giant exclusive rights to market the British company's cocktail mixers and tonic water in the United States.