Shares in East Imperial PLC (LSE:EISB) fizzed higher after the maker of 'ultra premium beverages' appointed a US bottling partner to meet what it said is rising Stateside demand.
The Lion Brewery will bottle the entire range of the New Zealand-based drinks maker, including its grapefruit tonic, Mombasa ginger beer and Yuzu lemonade, from early 2023.
This will result in "significant" logistical savings and reduce the capital costs of expansion, East Imperial said, which "will form a key part" of its plans to improve profit margins as well as providing flexibility to react to the demand.
Shares popped 20% higher to 2.95p on Thursday morning.