Athletic Brewing Company, the largest producer of non-alcoholic beer in the US announced on July 9 the closure of a $50 million equity financing round led by General Atlantic.
Athletic Brewing, based in Milford, helped pioneer both the rapidly growing nonalcoholic beer market and the current burgeoning Connecticut brewery scene. After its 2018 launch, it became a certified B Corp and now sells out of 50,000 retailers across the country with 19 percent of the national nonalcoholic beer market.
According to the announcement Athletic Brewing is planning to use the new capital to drive continued long-term growth, including the purchase of a new brewing facility and expanding into global markets.
“We’re thrilled to welcome General Atlantic as a key growth partner at a time when we’re significantly expanding our West Coast capacity to meet increasing demand for Athletic beer,” said Bill Shufelt, Co-Founder and CEO of Athletic. “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.”
