Keurig Dr Pepper invests in non-alcoholic craft beer maker Athletic Brewing
Keurig Dr Pepper has invested $50 million to acquire a minority stake in Athletic Brewing Company, an American non-alcoholic craft beer maker.
The move marks the entry of the North American beverage company into the rapidly emerging beverage segments.
The investment by Keurig Dr Pepper is said to form part of a $75 million fundraising round by Athletic Brewing Company and is expected to scale the latter’s growth across North America.
Athletic Brewing Company with a line-up of over 40 brews is said to hold a market share of 55% in the US non-alcoholic beer space.
Bob Gamgort — Keurig Dr Pepper Executive Chairman said: “Athletic Brewing is a winning brand in a rapidly growing beverage segment.
“Our investment reflects our interest and ability to move into exciting white spaces, including in the blurring of the alcoholic and non-alcoholic categories.
“We look forward to partnering with the Athletic Brewing team to help them scale the business.”
Keurig Dr Pepper invests $50 million in non-alcoholic craft beer maker Athletic Brewing Company. Photo courtesy of Athletic Brewing Company.
Following the investment, Keurig Dr Pepper will have a seat on Athletic Brewing Company’s board of directors and join other investors — Alliance Consumer Growth and TRB Advisors.
Bill Shufelt — Athletic Brewing Company co-founder said: “We’re thrilled to welcome Keurig Dr Pepper as an investor and strategic partner.
“Their team brings a tremendous amount of expertise and truly embraces our mission of brewing great-tasting non-alcoholic beers that are fit for all times.
“This investment will enable Athletic Brewing to further accelerate our growth across North America.”
Further terms of the deal were not disclosed.
In June 2022, Keurig Dr Pepper acquired the global rights to the non-alcoholic, ready-to-drink cocktail brand Atypique from Quebec-based Station Agro-Biotech.