The brewer plans to use the latest investment to increase production capacity and expand its offerings at global retailers to meet rising consumer demand for non-alcoholic beer.
Leading non-alcoholic brewer Athletic Brewing Company announced Tuesday it's raised an additional $50 million in equity financing in a round led by General Atlantic.
Athletic Brewing launched its non-alcoholic craft brewing facilities in 2018 and has since grown to become the 10th largest U.S. craft brewery and 20th largest overall U.S. brewing company, despite only offering non-alcoholic options, according to rankings by the Brewers Association.
Athletic holds over 19% market share within non-alcoholic beer and is driving 32% of total non-alcoholic beer category growth, according to NielsenIQ data.
Established beer companies like Heineken , Constellation Brands -owned Corona, Anheuser-Busch's Budweiser and even Diageo's Guinness have also hopped on the trend, introducing non-alcoholic beer offerings of their own.
Persons:
Bill Shufelt, John Walker, We're, CNBC's, it's, Shufelt, Diageo's Guinness, We've
Organizations:
Athletic Brewing’s, Athletic, General, Athletic Brewing Company, General Atlantic, Athletic Brewing, Brewers Association . Athletic, Revenue, CNBC, Street, NCSolutions, Heineken, Constellation Brands, Corona, Anheuser, Budweiser
Locations:
Stratford , Connecticut, U.S, Milford , Connecticut, San Diego