As part of the agreement, the beer giant will manage the sales, distribution and production of Fevertree’s products in the US.

The Coors Light manufacturer’s 8.5% stake in the nonalcoholic carbonated mixer, worth $89 million, further builds on its long-term strategy of increasing its exposure beyond beer.

Fevertree Drinks Plc surged after US brewer Molson Coors Beverage Co. agreed to buy a stake in the tonic and mixer maker.