Athletic Brewing Company, a Milford, CT- and San Diego, CA-based non-alcoholic brewery company, received a $50M Equity investment.
The round was led by General Atlantic, with participation from existing investors.
The company intends to use the funds to drive continued long-term growth, including through the recently announced purchase of a third U.S. brewing facility and the ongoing expansion of its non-alcoholic beer at retailers across the globe.
Led by CEO Bill Shufelt, Athletic developed a proprietary brewing method to make fully fermented non-alcoholic brews that are indistinguishable from alcohol counterparts. It has grown from one of the smallest breweries in America, producing just 875 barrels in 2018, to a top 20 U.S. brewery that sold over 258,000 barrels in 2023.
Athletic currently operates custom brewing facilities in Milford, Connecticut, and San Diego, California.
Commenting on th news, Bill Shufelt said: “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.”
FinSMEs
15/07/2024