Athletic Brewing, a rapidly rising star in the alcohol market, has recently secured a $50 million equity financing round led by General Atlantic. This comes as no surprise, as the company has been experiencing meteoric growth since its inception in 2018. With a focus on non-alcoholic beers, Athletic Brewing has managed to capture the attention of consumers and investors alike. In fact, the company finished 2023 as the 10th largest craft brewer in the US and the 20th largest overall brewer. This success has prompted the brand to seek out additional financing to fuel its long-term growth plans.
One of the key strategies employed by Athletic Brewing is the acquisition of brewing facilities to support its expansion efforts. The company has acquired two former Ballast Point brewing facilities in San Diego, with the latest acquisition announced in June 2024. These strategic acquisitions allow Athletic Brewing to ramp up its production capacity and meet the growing demand for its products. By renovating these facilities and implementing proprietary brewing methods, the company aims to maintain its high standards of quality and taste.
General Atlantic’s involvement in the $50 million equity financing round is a significant boost for Athletic Brewing. With approximately $84 billion in assets under management, General Atlantic brings valuable expertise and resources to the table. By securing a seat on the Athletic board, General Atlantic is poised to support the company’s growth trajectory and international expansion plans. The partnership with General Atlantic underscores the potential for Athletic Brewing to capitalize on the increasing demand for healthy beverage alternatives.
Athletic Brewing’s success has not gone unnoticed, as the brand has recently been named one of TIME’s “100 Most Influential Companies” of 2024 and highlighted in GQ’s list of the 20 most creative companies worldwide. The brand’s market share within the non-alcoholic beer segment continues to grow, with over a 19% share and driving 32% of total category growth. This remarkable achievement is even more impressive considering the challenging beer market landscape in the US, which saw a decline of 5% in 2023 according to the Brewers Association.
Athletic Brewing’s latest funding round and strategic initiatives reflect a brand that is on the rise. By focusing on quality, innovation, and consumer trends, the company has managed to carve out a significant presence in the competitive alcohol market. With the support of General Atlantic and a growing list of accolades, Athletic Brewing is well-positioned to continue its success and become a global leader in the non-alcoholic beer segment. Consumers can expect to see more of Athletic Brewing’s brightly colored cans on store shelves as the brand’s influence continues to expand.