Athletic Brewing Company has recently held a Series D fundraising round for $75 million. A surprising name has popped up in the fundraising which is Keurig Dr Pepper. You might previously have known of them as Green Mountain Coffee Roasters. We have been informed that Keurig Dr Pepper acquires stake in Athletic Brewing Co.
Invested $50 million
It is reported that Keurig Dr Pepper is now investing $50 million into Athletic Brewing Co. While no information is disclosed on how much equity Keurig Dr Pepper now will own, it is said to be comparable to other lead investors in the the non-alcoholic craft beer brewery.
This will also give the company a seat on the board of investors.
Branching out from soft drinks and coffee
Keurig Dr Pepper has for a long time had their focus on non-alcoholic drinks. Currently, their portfolio consists of a premium water brand, an energy drink, and of course the popular soft drink Dr Pepper.
This is their first move into the non-alcoholic beer space where Athletic Brewing is a market leader. The non-alcoholic craft beer category is a different segment where Athletic Brewery is said to hold a market share of more than 50 percent. A feat they have managed to achieve in only 5 years since they were founded as late as in 2017.
The US non-alcoholic craft beer market is also a rapidly growing market. During last year it is said the market saw a growth of nearly 20%.
Bill Shufelt, co-founder of Athleting Brewing Company, has said “We´re delighted to have Keurig Dr Pepper onboard as an investor but also a strategic partner. They are passionate about non-alcoholic craft beer and we are excited to work with their experienced team. This investment will give us a chance to expand our reach within the USA and help us accelerate our growth”.
Dr Keurig Pepper acquiring a stake in Athletic Brewing is exciting for us as it shows that the market is taken seriously. This means means we should be seeing even more delicious NA craft beers in the future.