Athletic Brewing

Overview

Athletic Brewing Company is a U.S.-based manufacturer of non-alcoholic craft beer, headquartered in Milford, Connecticut. Founded in 2017 by Bill Shufelt and John Walker, Athletic Brewing has rapidly become a leader in the non-alcoholic beer market. It captured attention for its innovative production of craft beers without alcohol, securing substantial funding, including a notable investment of $50 million from Keurig Dr Pepper in 2022. By 2024, the company was valued at approximately $800 million and had achieved a 19% market share of the non-alcoholic beer segment in the U.S.

Recent Developments

July 2024: Athletic Brewing raised $50 million in funding led by General Atlantic, doubling its valuation to $800 million compared to 2022. This investment will support expanding production capabilities and the acquisition of new facilities to meet increasing consumer demand for non-alcoholic beers.
June 2024: The company acquired a second San Diego production facility from Ballast Point Brewing, doubling its U.S. brewing capacity. This expansion is essential for accommodating growing demand and producing more varieties of its craft non-alcoholic beers.
2024: Recognized by TIME magazine as one of the 100 Most Influential Companies, highlighting its significant impact on the beverage industry.
2023: With increasing competition from other brands like Heineken 0.0, Athletic Brewing has positioned itself as a major player by holding robust marketing strategies and expanding its product availability across various distribution channels, including an agreement with Arsenal Football Club to supply non-alcoholic beer.
2022: Athletic experienced a financial boost when Keurig Dr Pepper took a minority stake in the company, valuing the company then at around $500 million.

Attribute	Information
Founding Date	2017
Headquarters	Milford, Connecticut, USA
Founders	Bill Shufelt and John Walker
Revenue	Over $90 million in 2023
Profits	Not publicly disclosed
Key Investors	Keurig Dr Pepper, General Atlantic
Industry	Non-alcoholic Beverages
Number of Employees	Approximately 500

Early History

Athletic Brewing Company was conceptualized by Bill Shufelt, who, after abstaining from alcohol for personal fitness, sought better tasting non-alcoholic beer options. Shufelt partnered with award-winning brewer John Walker. Their vision materialized in 2018 when they launched the world's first brewery dedicated entirely to producing non-alcoholic craft beers. Early investment rounds allowed them to rapidly upscale operations and production, setting the foundation for their market leadership in the U.S.

Company Profile and Achievements

From its inception, Athletic Brewing has committed to filling the void in the non-alcoholic beer market with high-quality options. The company's business model leverages its proprietary brewing methods, which ensure that its beers maintain robust flavor profiles, outmatching traditional non-alcoholic options that often remove alcohol through methods affecting taste. Key achievements include:

Market Leadership: By 2024, Athletic Brewing captured 19% of the U.S. non-alcoholic beer market, significantly contributing 32% of category growth.
Innovative Products: The brand's core lineup includes bestselling beers like Run Wild IPA and Upside Dawn.
Awards and Recognition: Athletic Brewing’s beers, including the Free Wave IPA, have won numerous accolades, including being declared the Supreme Champion at the International Beer Challenge.
E-commerce Expansion: Athletic capitalized on its non-alcoholic status by launching direct-to-consumer sales, an unconventional approach in the beverage industry, contributing to an expanded consumer base.

Current Operations and Market Position

Athletic Brewing operates breweries in Milford, Connecticut, and San Diego, California. It produces a range of non-alcoholic craft beers that are distributed nationally across over 50,000 retail locations. Its strategic focus on marketing directly to health-conscious consumers and entry into popular retail chains like Whole Foods has solidified its standing as a leading brand. The company continues to harness consumer trends towards healthier, alcohol-free lifestyles, ensuring competitive advantage by maintaining low calorie counts in their beverage offerings.

Conclusion

Athletic Brewing Company has effectively redefined the non-alcoholic beer segment within just a few years of establishment. Through innovative brewing processes and strategic market expansion, it has become a prominent name in both the non-alcoholic and craft beer industries. With continued focus on expanding its production capabilities to meet rising demand and diversifying its product offerings, Athletic Brewing holds a robust position for future growth. As consumer preferences shift towards healthier lifestyles and moderation, Athletic is well-poised to capitalize on these trends and sustain its trajectory as a leading non-alcoholic beer brand.