Athletic Brewing, the largest non-alcoholic brewery in the world and the 20th brewery in the U.S in general, has raised another $50 million from General Atlantic. The company believes General Atlantic will invest more in the future as it sits on over $84 Billion in assets and is known to invest in future-driven companies since 1980.
Key Points
- Athletic Brewing secures $50 million in funding from General Atlantic.
- It is the largest non-alcoholic brewery in the world.
- Athletic Brewing is valued at over $800 million and holds 19% of U.S market share (non-alcoholic).
Majority of this new funding is supposed to go into expanding its operations. Towards the same goals, it recently purchased a third brewing facility based in the U.S. Some portion of the funds will also be invested into expanding retail reach.
The company already holds breweries in Milford, Connecticut, California as well as San Diego.
The company produces non-alcoholic drinks which are almost identical to their alcoholic counterparts, without the alcohol.
A recent study suggests that 41% of Americans are trying to get off Alcohol and switch to non-alcoholic alternatives. This is a number that’s only supposed to rise as the world gets more health-conscious. Both of these points played a major role in General Atlantic seeding the $50 million for the company.
General Atlantic, a private equity firm with investments across the board in companies such as Reliance Health, Shein, AnyDesk etc. is natural to take interest in the non-alcoholic drinks market. Their $50 million investment in Athletic Brewery may have industry-shaping consequences for the entire beverage industry across U.S and the world.
“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.”-Bill Shufelt, Co-Founder and CEO of Athletic.
The company was also recently named the 100 most influential companies in 2024 by Times.
The company boasts dozens of flavor profiles, seasons, and types that consumers can choose from. Items can be ordered online directly from their website, or retailers all across the U.S. While orders can be one-time, it also features a “subscription” model that delivers products on automation.
