On Tuesday, Athletic Brewing Company The company announced that it had closed a $50-million equity financing round, led by a private equity firm General AtlanticThe participation of other investors is also welcome. As The transaction is part of it General Atlantic The seat was taken on Athletic’s Board of managers

According A press releaseThe company plans to use this funding to boost its long-term expansion. This Includes renovating the recently purchased Ballast Point brewing facility The following are some examples of how to use San Diego Expanding distribution to new markets internationally. Athletic You can learn more about it here. America’s Brand with the fastest growing non-alcoholic beer category, representing over 19% of total market shares. according to NielsenIQ, currently drives 32 percent of category growth.

“We’re thrilled to welcome General Atlantic as a key growth partner at a time when we’re significantly expanding our West Coast capacity to meet increasing demand for Athletic beer,” You can also read about the importance of this in our article Bill Shufelt, Athletic’s In the press release, co-founder and CEO is named. “We’re at the start of a long-term trend, and we couldn’t be more excited to have General Atlantic by our side as Athletic begins its next phase of growth.”

To To date, the brewery has raised about $225,000,000 through angel investors. Series A, Series B. Series Rounds C and D of funding As Shufelt What is explained? BrewboundThe company decided to use equity financing at this time, partly because of high interest rates but also due to “invite one of the most respected world-class investors onto [their] cap table [as] they have a very long-term vision.”

Athletic Two brewing plants are currently in operation: their flagship brewery is located in Milford, ConnAnd a second one in San Diego. Over The company will install a new packaging system and upgrade the brewhouse on site, as well as the cellar and laboratory at the former brewery. Ballast Point Brewery It is fully operational. At This is the point. Athletic It hopes to double the production capacity.

“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,” You can also read about the importance of this in our article Andrew CrawfordManaging director and global head consumer at General AtlanticIn the release. “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 intend to leverage our international platform and capabilities across technology, digital marketing, and merchandising to help the business achieve its potential.”

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