Athletic Brewing Company Announces $50 Million Equity Financing Round Led by General Atlantic
Summary
"Athletic has rapidly become the category-defining brand in non-alcoholic beer, and we are excited to partner with Bill and John as the company continues to grow," said Andrew Crawford, Managing Director and Global Head of Consumer at General Atlantic. "With a differentiated brewing process, leading taste profile, and loyal customer base, Athletic is poised to take advantage of the expanding global demand for non-alcoholic beer. We look forward to working with the Athletic team as they continue to expand their extensive portfolio and lead further innovation in this dynamic category for years to come," added Harrison DiGia, Vice President at General Atlantic.Athletic currently operates custom brewing facilities in Milford, Connecticut, and San Diego, California. Over the next 18 months, Athletic is planning a series of renovations and site improvements at the new facility which will include the installation of a new packaging line and enhancements to the brewhouse, cellar, and lab to meet the companys strict food safety and quality standards. General Atlantic has approximately $84 billion in assets under management inclusive of all products as of March 31, 2024, and more than 300 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, S\xe3o Paulo, Shanghai, Singapore, Stamford and Tel Aviv.