The chief executive of boutique drinks maker Fever-Tree has netted £29m after selling 1.5m shares in the company he co-founded.

Tim Warrillow, who co-founded the boutique drinks maker with deputy chairman Charles Rolls in 2004, sold 1.5m shares on Wednesday (26 July) in what he described as a "response to demand from institutional investors."

Warrillow now holds a 5.4% stake in Fever-Tree.

His share sale follows a much larger divestment just two months ago by Rolls, who netted £73m by selling a 3.9% stake in the company.

Fever-Tree's share price has risen by more than 1000% or 15 times over since it floated in late 2014.

The company upgraded its profits forecast for again earlier this week, following robust growth for the first six months of its current financial year, as revenue rose 77% to £71.9m, versus £40.6m over the corresponding period last year.

Fever-Tree shares were trading up 4.23% or 87p at 2,148.61 at 9:43am BST. Its stock emerged as the best performing company on London's small cap market AiM in 2016.