Athletic Brewing Company Secures $50 Million In Equity Financing Led By General Atlantic
Summary
Athletic Brewing Company, the largest non-alcoholic brewery in America, today announced it has closed a $50 million equity financing round led by General Atlantic with participation from multiple existing investors.Athletic plans on using the new capital to drive more long-term growth, including through the recently announced purchase of a third U.S. brewing facility and the ongoing expansion of its world-class non-alcoholic beer at retailers worldwide. And the investment from General Atlantic, along with other key investors, closely follows Athletics recent acquisition of a second San Diego brewing facility, formerly known as Ballast Point. 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 for meeting the companys strict food safety and quality standards. 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. Andrew Crawford, Managing Director and Global Head of Consumer at General AtlanticGeneral Atlantic shares Athletics excitement for the future of the non-alcoholic beer market.