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Athletic Brewing Secures $50 Million Investment for Non-Alcoholic Beer Expansion
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Athletic Brewing, a nonalcoholic beer producer, has secured $50 million in funding, led by General Atlantic. This investment is intended to enhance production capabilities and facilitate global expansion. The company, now valued at $800 million, has experienced a doubling of its revenue over the past 18 months.
Founded in 2018, Athletic Brewing has rapidly ascended to become the 10th largest craft brewery in the U.S. It commands over 19% of the nonalcoholic beer market and contributes to 32% of its growth. The company credits its success to the increasing trends in health and wellness.
More than 40% of Americans are reducing their alcohol consumption, a figure that increases to 49% among millennials and 61% among Gen Z. Prominent brands like Heineken and Budweiser are also introducing nonalcoholic alternatives.
Athletic Brewing intends to double its U.S. brewing capacity with a new facility in San Diego. CEO Bill Shufelt aims to provide a beer that consumers can enjoy nightly without remorse. The company has invested over $100 million in manufacturing to establish a new benchmark in quality for nonalcoholic beers.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting with in-depth analysis. |
| Social Impact | 4 | Influences public opinion on health trends. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | High potential to trigger market changes. |
| Practicality | 4 | Highly practical, directly applicable. |
| Entertainment Value | 3 | Some entertainment value, attracts audience. |