Athletic Brewing Company, a leading nonalcoholic brewer, has recently announced that it has secured an additional $50 million in equity financing. The round was led by General Atlantic, with expectations that General Atlantic will continue to invest significantly beyond that initial amount. The company plans to utilize this funding to increase its production capacity and expand its offerings at global retailers in order to meet the growing demand for nonalcoholic beer among consumers.
Athletic Brewing Company is committed to transforming the way modern adults drink and converting skeptics into believers. Despite only offering nonalcoholic options, the company has managed to become the 10th largest U.S. craft brewery and the 20th largest overall U.S. brewing company. With over 19% market share within the nonalcoholic beer sector, Athletic is a major player in this growing market, driving 32% of total nonalcoholic beer category growth according to NielsenIQ data.
Impressive Growth
Athletic Brewing has experienced significant growth in the past 18 months, with revenue more than doubling since its last funding round. The company’s valuation has also doubled to $800 million, showcasing the strong investor interest in the nonalcoholic beer market. With two brewing facilities already in operation in the U.S. and a third facility in San Diego on the way, Athletic is poised to double its brewing capacity in the near future.
The success of Athletic Brewing Company can be attributed to the growing health and wellness trends that are influencing consumer preferences. More than 40% of Americans are actively trying to drink less alcohol, with even higher percentages among millennials and Generation Z. Established beer companies like Heineken, Corona, Budweiser, and Guinness have all recognized this trend and introduced their own nonalcoholic beer offerings to cater to this changing consumer landscape.
As the demand for nonalcoholic beverages continues to rise, companies like Athletic Brewing are capitalizing on this trend and reshaping the beer industry. With a strong focus on quality, innovation, and sustainability, Athletic is well-positioned to continue its upward trajectory in the market. By providing consumers with beer that they can enjoy any day of the week while feeling good about their choices, Athletic Brewing Company is at the forefront of a new era in the brewing industry.
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