Athletic Brewing Company's $50 Million Boost
July 18, 2024, 9:36 am
Location: United States, Connecticut, Stratford
Total raised: $125.45M
Athletic Brewing Company, the largest non-alcoholic brewery in America, recently secured a hefty $50 million in equity financing led by General Atlantic. This injection of capital will fuel the company's long-term growth plans, including the acquisition of a third U.S. brewing facility and the expansion of its non-alcoholic beer offerings worldwide. With General Atlantic now on board, Athletic is gearing up for a new phase of expansion and innovation in the booming non-alcoholic beer market.
Founded in 2018, Athletic Brewing Company has revolutionized the industry with its proprietary brewing method that produces non-alcoholic brews that rival their alcoholic counterparts in taste and quality. From humble beginnings producing just 875 barrels in 2018, Athletic has quickly climbed the ranks to become one of the top 20 U.S. breweries, selling over 258,000 barrels in 2023.
The recent investment from General Atlantic comes on the heels of Athletic's acquisition of a second brewing facility in San Diego, formerly known as Ballast Point. With plans for extensive renovations and upgrades at the new facility, Athletic aims to double its U.S. brewing capacity in the next 18 months. This strategic move will not only meet the growing demand for Athletic beer but also solidify the company's position as a leader in the non-alcoholic beer market.
With dollar sales soaring by over 60%, Athletic currently commands a 19% market share in the non-alcoholic beer category and is driving 32% of total category growth. The company's success can be attributed to its commitment to quality, innovation, and customer satisfaction.
CEO Bill Shufelt expressed his excitement about the partnership with General Atlantic, stating, "We are passionate about transforming the way modern adults drink and converting critics into believers. We're at the start of a long-term trend, and we couldn't be more excited to have General Atlantic by our side as Athletic begins its next phase of growth."
General Atlantic's Managing Director and Global Head of Consumer, Andrew Crawford, echoed Shufelt's enthusiasm, highlighting Athletic's potential to capitalize on the growing global demand for non-alcoholic beer. With General Atlantic's support, Athletic is poised to leverage its unique brewing process, exceptional taste profile, and loyal customer base to drive further innovation and expansion in the dynamic non-alcoholic beer market.
As Athletic Brewing Company embarks on this new chapter of growth and innovation, the future looks bright for this trailblazing brewery that is redefining the way we think about non-alcoholic beer. With General Atlantic's backing and a commitment to excellence, Athletic is well-positioned to continue leading the charge in this rapidly evolving industry.
Founded in 2018, Athletic Brewing Company has revolutionized the industry with its proprietary brewing method that produces non-alcoholic brews that rival their alcoholic counterparts in taste and quality. From humble beginnings producing just 875 barrels in 2018, Athletic has quickly climbed the ranks to become one of the top 20 U.S. breweries, selling over 258,000 barrels in 2023.
The recent investment from General Atlantic comes on the heels of Athletic's acquisition of a second brewing facility in San Diego, formerly known as Ballast Point. With plans for extensive renovations and upgrades at the new facility, Athletic aims to double its U.S. brewing capacity in the next 18 months. This strategic move will not only meet the growing demand for Athletic beer but also solidify the company's position as a leader in the non-alcoholic beer market.
With dollar sales soaring by over 60%, Athletic currently commands a 19% market share in the non-alcoholic beer category and is driving 32% of total category growth. The company's success can be attributed to its commitment to quality, innovation, and customer satisfaction.
CEO Bill Shufelt expressed his excitement about the partnership with General Atlantic, stating, "We are passionate about transforming the way modern adults drink and converting critics into believers. We're at the start of a long-term trend, and we couldn't be more excited to have General Atlantic by our side as Athletic begins its next phase of growth."
General Atlantic's Managing Director and Global Head of Consumer, Andrew Crawford, echoed Shufelt's enthusiasm, highlighting Athletic's potential to capitalize on the growing global demand for non-alcoholic beer. With General Atlantic's support, Athletic is poised to leverage its unique brewing process, exceptional taste profile, and loyal customer base to drive further innovation and expansion in the dynamic non-alcoholic beer market.
As Athletic Brewing Company embarks on this new chapter of growth and innovation, the future looks bright for this trailblazing brewery that is redefining the way we think about non-alcoholic beer. With General Atlantic's backing and a commitment to excellence, Athletic is well-positioned to continue leading the charge in this rapidly evolving industry.