Athletic Brewing Secures $50 Million in Series C Funding
As non-alcoholic beers continue to gain traction, non-alcoholic beer brand Athletic Brewing has raised $50 million in Series C funding. The funding will be used to support the brewer’s East Coast expansion through construction of a manufacturing facility in Connecticut. Athletic's total funding to date is $70 million.
Sales of non-alcoholic craft beer have grown 430% year-over-year, according to data from Nielsen, and Athletic Brewing currently claims half of the segment. Athletic produced roughly 40,000 barrels of beer last year, but it was not enough to keep up with demand, according to co-founder and CEO Bill Shufelt. The new manufacturing facility will be its third.
0 comments:
Post a Comment