Athletic Brewing Company, a leading nonalcoholic brewer, has recently secured an impressive $50 million in equity financing, with General Atlantic leading the round. This substantial investment is a testament to the company’s rapid growth and increasing popularity in the nonalcoholic beer market. With plans to expand its production capacity and offerings, Athletic Brewing Company is poised for even greater success in the near future.
Athletic Brewing Company’s CEO and founder, Bill Shufelt, expressed his enthusiasm for the company’s future prospects, noting General Atlantic’s sustained interest in further investments. The company’s mission to revolutionize the way modern adults consume beverages has resonated with consumers, as evidenced by their remarkable growth since their inception in 2018. By converting skeptics into advocates, Athletic Brewing Company has carved out a significant market share within the nonalcoholic beer sector.
Exceptional Growth and Market Penetration
Despite offering exclusively nonalcoholic options, Athletic Brewing Company has managed to achieve impressive rankings within the U.S. brewing industry. According to the Brewers Association, they are currently the 10th largest U.S. craft brewery and the 20th largest overall U.S. brewing company. With over 19% market share in the nonalcoholic beer segment and driving 32% of total category growth, Athletic Brewing Company has solidified its position as a key player in the market.
The company’s revenue has more than doubled since its Series D funding round 18 months ago, signaling sustained financial growth and stability. The recent fundraising round has also doubled Athletic Brewing Company’s valuation to $800 million, highlighting investor confidence in the brand’s potential. With three brewing facilities in the U.S., including a newly acquired site in San Diego, the company is poised to significantly increase its production capacity and meet growing consumer demand.
The success of Athletic Brewing Company can be attributed to the growing health and wellness trends that are driving consumer interest in nonalcoholic beverages. More than 40% of Americans are actively seeking to reduce their alcohol consumption, with even higher percentages among millennials (49%) and Generation Z (61%). Established beer companies, recognizing this shift in consumer preferences, have also introduced their own nonalcoholic beer offerings to cater to changing tastes.
As Athletic Brewing Company continues to thrive in the nonalcoholic beverage market, their commitment to providing consumers with high-quality, enjoyable alternatives to traditional beer remains steadfast. By aligning with evolving consumer preferences and tapping into burgeoning health and wellness trends, the company is well-positioned for sustained growth and success in the years to come. With a focus on quality, innovation, and consumer satisfaction, Athletic Brewing Company is set to redefine the nonalcoholic beer landscape and challenge industry norms.