News Athletic Brewing Announces $50 Million Equity Funding Round

Athletic Brewing Company has announced that it has closed on a $50 million equity financing round led by General Atlantic with participation from multiple existing investors. The infusion of investment capitol comes on the heels of a previous $50 million funding round that closed in November of 2022.

Athletic is the largest non-alcoholic brewery in the country and continues its red-hot growth streak. Founded in 2017 by hedge-fund trader Bill Shufelt and craft brewer John Walker, Athletic Brewing has risen to a top-20 craft brewer having sold 258,000 barrels in 2023. Along with other “new-gen” NA brewers, Athletic uses innovative techniques to make non-alcoholic beer that tastes good.

Athletic plans to use the new capital to support continued long-term growth. The company just acquired a third brewing facility, formerly the Ballast Point brewery in San Diego. Over the next 18 months, Athletic plans a major renovation of the brewery that will include the installation of a new packaging line, brewhouse upgrades and cellar and lab improvements. Once operational, Athletic expects to double its U.S. brewing capacity.

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