From CNBC: 2024-07-09 11:06:55

Athletic Brewing Company raises $50 million in equity financing led by General Atlantic to expand production and meet growing demand for non-alcoholic beer. Founded in 2018, Athletic has grown to become the 10th largest U.S. craft brewery and holds over 19% market share in non-alcoholic beer, driving 32% category growth. Company’s valuation doubled to $800 million.

Athletic Brewing Company plans to use the latest investment to increase production capacity and expand its offerings at global retailers. The company has two brewing facilities in the U.S. and recently announced the purchase of a third, located in San Diego, to help double its brewing capacity. Athletic sold over 3 million cases and $90 million in revenue last year, with revenue more than doubling since the last funding round.

40% of Americans are actively trying to drink less alcohol in 2024, contributing to the rising consumer interest in non-alcoholic beverages. Established beer companies like Heineken, Corona, Budweiser, and Guinness are introducing their own non-alcoholic beer offerings to cater to growing health and wellness trends in the market. Athletic Brewing aims to offer high-quality non-alcoholic beer for daily consumption, investing over $100 million in manufacturing for superior quality.



Read more at CNBC: Non-alcoholic beer maker Athletic Brewing raises $50 million