Athletic Brewing Raises $50M in Funding Round

Athletic Brewing Company, a leading non-alcoholic brewer, secured an additional $50 million in equity financing led by General Atlantic, doubling its valuation to $800 million. The company plans to use the investment to expand production capacity and offerings globally to meet the increasing demand for non-alcoholic beer. Athletic Brewing holds a significant market share within the non-alcoholic beer sector and has experienced rapid revenue growth. With ambitions to double its U.S. brewing capacity, the company recently acquired a former Ballast Point brewery in San Diego, aiming to enhance its production capabilities. Additionally, Athletic Brewing has diversified its product line by introducing hop-infused sparkling water under the Daypack brand, showcasing innovation in the beverage industry.