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

By Shashwat Awasthi (Reuters) -Shares of Fevertree Drinks surged almost 24% after Molson Coors took an 8.5% stake in a $88 million deal that gives the beer giant exclusive rights to market the British company's cocktail mixers and tonic water in the United States.

The London-listed mixer-maker said Molson Coors would acquire an 8.5% shareholding in Fevertree.