🏃‍♀️‍➡️ Athletic Closes $50M Equity Financing Round

Athletic Brewing announced today a $50 million equity financing round, led by a private equity firm. Brewbound Insiders are reading insights from the dedicated non-alcoholic beer maker’s co-founder, Bill Shufelt, on the investment, the company’s history of funding rounds, its new facility in San Diego and 2024 trends.

Insiders are also:

• Learning how flavor-forward, ready-to-drink (RTD) cocktails and over alcoholic beverages are faring in scan data;
• Reading about how in-store displays can boost sales;
• Visiting the Hamptons via an RTD that grew out of a live music venue;
• And checking out stacks upon stacks of Surfside cases at the Jersey Shore (newsletter exclusive).

Insiders also have access to the Brewbound Newsletter Archive, including previous newsletter-exclusive Insider content.

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Fast-rising non-alcoholic beer maker Athletic Brewing Company has closed a $50 million “equity financing round” led by private equity firm General Atlantic, with several key investors from previous fundraising rounds also participating. 

The latest funding round comes 21 months after a $50 million Series D round led by Keurig Dr Pepper (KDP) that closed in November 2022. 

The new equity financing round is being earmarked to “drive continued long-term growth,” including Athletic’s purchase of another San Diego-based Ballast Point production facility, as well as expanding international sales of its NA beer. 

Insiders can read more about the financing round, Athletic’s brewing capacity and latest trends.

Flavor-forward innovations are driving beer category growth and this trend is accelerating, according to the most recent report from Bump Williams Consulting (BWC). 

Of the top 25 growth brands at total U.S. off-premise outlets year-to-date (YTD) through June 15, 13 were “flavor-centric” or ready-to-drink (RTD) offerings, BWC founder Bump Williams noted, citing data from market research firm NIQ. In the four-week period ending June 15 (L4W), 16 of the top 25 growth brands were “flavor-centric” or RTD.

There were many ways entertainment venues aimed to keep the lights on during the pandemic. For a Hamptons bar that regularly hosted musical acts, creating a ready-to-drink (RTD) cocktail was one solution. They just had to pass a bev-alc control law first.

Launched in August 2021, RTD brand Talkhouse Encore is now expanding beyond the radius of its namesake: Amagansett, New York-based Stephen Talkhouse (referred to as the Talkhouse), a neighborhood bar that has featured renowned performers like Paul McCartney or Ed Sheeran alongside local East End talent.

Insiders can read more about the brand’s journey and recent milestones.

In-store displays “are more effective at selling beer” compared to “shrinking” shelf space, Kaumil Gajrawala, analyst for financial services firm Jefferies, wrote in a late June analysis.

Gajrawala wrote: “Shelf space gains are incremental to a brand's growth given increased visibility and inventory – but displays provide more lift. Beer displays helped generate +10% more dollars for the industry over the last year.”

Insiders can keep reading for more insights from Jefferies, including top display gainers and who is “best positioned” to gain displays moving forward.

The Brewbound Live business conference returns December 11 and 12 in Marina del Rey, California.

Brewbound Live will feature beverage-alcohol industry leaders taking part in business-focused conversations, data presentations, networking and much more across two days at the Marina del Rey Marriott.

Speakers for this year’s conference include:

• Russian River co-owner Natalie Cilurzo;
• Deschutes Brewery CEO Peter Skrbek;
• National Beer Wholesalers Association chief economist and VP of analytics Lester Jones;
• Draftline Technologies founder and president Jennifer Hauke
• Gulf Distributing senior VP of legal and government affairs Rebecca Maisel
• 3 Tier Beverages consultant Mary Mills
• NIQ director of thought leadership for bev-alc Kaleigh Theriault
• Bump Williams Consulting VP of business development BK Krueger
• Full Circle Brewing owner Arthur Moye.

Additional speakers will be announced in the coming weeks.

Register for Brewbound Live 2024.