At Extreme Investor Network, we pride ourselves on bringing you the latest and most exciting business news, and today is no exception. Leading nonalcoholic brewer Athletic Brewing Company has just raised an additional $50 million in equity financing in a round led by General Atlantic. This is a testament to the company’s commitment to transforming the way modern adults drink and their ability to meet rising consumer demand for nonalcoholic beer.
Athletic Brewing launched its nonalcoholic craft brewing facilities in 2018 and has quickly grown to become the 10th largest U.S. craft brewery and 20th largest overall U.S. brewing company. Despite only offering nonalcoholic options, Athletic holds over 19% market share within the nonalcoholic beer category and is responsible for driving 32% of total category growth, according to NielsenIQ data.
The company’s success can be attributed to the growing health and wellness trends that are driving consumer interest in nonalcoholic beverages. With more than 40% of Americans actively trying to drink less alcohol, the demand for nonalcoholic alternatives is only expected to rise. Established beer companies like Heineken, Constellation Brands, Anheuser-Busch’s Budweiser, and Diageo’s Guinness have also joined the trend by introducing their own nonalcoholic beer offerings.
At Athletic Brewing, they are committed to providing consumers with beer they can enjoy seven nights a week and feel good about. With over $100 million invested in manufacturing, they have achieved a level of quality that the nonalcoholic beer segment has never seen before.
With the latest investment from General Atlantic, Athletic Brewing is poised to continue its growth and meet the increasing demand for nonalcoholic beer. Stay tuned to Extreme Investor Network for more updates on this exciting development and other business news that could impact your investing decisions.