Lance Armstrong Invests in Athletic Brewing Company
Former Cyclist Invests in Non-Alcoholic Beer Brand
Athletic Brewing Company, a pioneering non-alcoholic craft beer brand, has made waves in the beverage industry by attracting high-profile investors, including Lance Armstrong. The renowned cyclist and endurance athlete joined a group of celebrity backers, demonstrating the growing appeal of alcohol-free beer options.
Lance Armstrong's involvement with Athletic Brewing Company reflects a broader trend of athletes and health-conscious individuals embracing non-alcoholic alternatives. As a globally recognized figure passionate about active lifestyles, Armstrong's support lends credibility to the brand's mission of providing flavorful, craft-quality beers without alcohol.
Athletic Brewing's success extends beyond celebrity endorsements. The company has secured significant funding, including a $50 million investment from General Atlantic, positioning it as one of the largest craft beer brands in America. This growth highlights the evolving landscape of the low-and-no-alcohol category, with Athletic Brewing at the forefront of making non-alcoholic beer a popular choice among consumers.
Company Overview
Athletic Brewing Company revolutionized the non-alcoholic beer market with its craft brewing approach. The company's rapid growth and commitment to social responsibility have positioned it as a leader in the industry.
Founding and Mission
Athletic Brewing Company was founded in 2017 by Bill Shufelt and John Walker. Their mission was to create high-quality, non-alcoholic craft beer options for health-conscious consumers. The founders saw an opportunity to cater to a growing market of individuals seeking flavorful alternatives to traditional alcoholic beverages.
The company's core values focus on promoting an active lifestyle and social inclusivity. Athletic Brewing aims to provide beer lovers with great-tasting options that don't compromise their health or fitness goals.
Growth and Market Presence
Since its inception, Athletic Brewing has experienced remarkable growth. The company opened its first brewery and taproom in Stratford, Connecticut, dedicated solely to non-alcoholic craft beer production.
In 2020, Athletic Brewing expanded operations by opening a 150,000-barrel brewery in San Diego, California. This move significantly increased production capacity to meet rising demand.
The company's success attracted notable investors, including athletes and celebrities. J.J. Watt, Lance Armstrong, and restaurateur David Chang are among the prominent figures who have invested in Athletic Brewing.
Certified B Corporation Status
Athletic Brewing Company obtained Certified B Corporation status, demonstrating its commitment to social and environmental responsibility. This certification recognizes businesses that meet high standards of verified performance, accountability, and transparency.
As a B Corp, Athletic Brewing balances profit with purpose, considering the impact of its decisions on workers, customers, suppliers, community, and the environment. This status aligns with the company's mission to create positive change in the beverage industry and beyond.
The company's dedication to sustainability and social responsibility has resonated with consumers, further strengthening its brand reputation and market position.
Non-Alcoholic Beer Industry
The non-alcoholic beer industry has experienced significant growth in recent years, driven by changing consumer preferences and health trends. This segment has emerged as a dynamic and innovative sector within the broader beverage market.
Trends in Alcohol Consumption
Alcohol consumption patterns have shifted notably, with many consumers seeking healthier lifestyle choices. This trend has led to increased demand for low and no-alcohol alternatives. Younger generations, in particular, are driving this change, opting for beverages that align with their wellness-focused mindsets.
Dry January and Sober October movements have gained popularity, further boosting interest in non-alcoholic options. Many consumers now incorporate alcohol-free days into their routines, creating opportunities for non-alcoholic beer brands.
Low-No Alcohol Beer Category
The low-no alcohol beer category has emerged as one of the fastest-growing segments in the beverage industry. Major breweries and craft producers alike have entered this market, recognizing its potential.
Technological advancements have improved the taste and quality of non-alcoholic beers, making them more appealing to consumers. Brands like Athletic Brewing have pioneered craft non-alcoholic beers, offering a diverse range of styles and flavors.
This category has expanded beyond traditional lagers, now including IPAs, stouts, and other craft styles. The variety available has attracted both beer enthusiasts and health-conscious consumers.
NielsenIQ Data Insight
NielsenIQ data has provided valuable insights into the growth of the non-alcoholic beer market. Sales figures have shown consistent year-over-year increases, outpacing the growth of traditional beer categories.
Non-alcoholic beer has captured a larger market share, particularly in certain demographics and regions. NielsenIQ reports have highlighted the category's strong performance in urban areas and among millennials.
Data also indicates that non-alcoholic beer sales spike during specific periods, such as Dry January, demonstrating the impact of health-focused campaigns on consumer behavior.
Strategic Partnerships and Investments
Athletic Brewing Company has secured significant funding and partnerships to fuel its growth in the non-alcoholic craft beer market. The company's strategic moves have attracted high-profile investors and enabled rapid expansion of brewing capacity.
Series B and C Funding Rounds
Athletic Brewing raised $17.5 million in Series B funding, attracting investments from notable figures. Lance Armstrong, J.J. Watt, David Chang, Blake Mycoskie, and Justin Tuck were among the celebrity investors who participated in this round. The funding supported the company's expansion efforts and market growth initiatives.
In a subsequent Series C round, Athletic Brewing secured $50 million in equity financing. This substantial investment provided the company with additional resources to drive long-term growth and strengthen its position in the non-alcoholic beer segment.
General Atlantic Involvement
General Atlantic, a prominent American growth equity firm, led the $50 million equity financing round for Athletic Brewing. The firm's involvement brought not only capital but also strategic support to the brewery. General Atlantic's expertise in scaling businesses aligned with Athletic Brewing's ambitious expansion plans.
The partnership with General Atlantic signaled confidence in Athletic Brewing's business model and growth potential. It provided the company with access to valuable resources and industry connections.
Expansion Plans
Athletic Brewing has leveraged its funding to significantly increase brewing capacity. The company outgrew its initial 12,000-barrel capacity at its Stratford, Connecticut headquarters. In response, Athletic Brewing added a new facility in San Diego, California, expanding production by 125,000 barrels.
This strategic expansion allowed Athletic Brewing to meet growing demand for its non-alcoholic craft beers. The increased brewing capacity positioned the company to serve a wider market and capitalize on the rising popularity of non-alcoholic beer options.
Athletic Brewing's investments in production facilities have been crucial in supporting its rapid growth and maintaining its position as a leading non-alcoholic craft brewer in the United States.
Marketing and Sales
Athletic Brewing Company employs innovative marketing strategies and sales tactics to promote its non-alcoholic craft beers. The company leverages digital platforms, implements targeted sales approaches, and fosters consumer engagement to drive growth.
Digital Presence on YouTube
Athletic Brewing maintains an active YouTube channel to showcase its products and brand story. The company posts videos highlighting brewing processes, athlete partnerships, and the benefits of non-alcoholic beer. Product reviews and taste tests feature prominently, allowing potential customers to see the beers in action. The channel also shares content about outdoor activities and fitness, aligning with the brand's athletic focus.
Sales Strategies
Athletic Brewing's sales strategies focus on both online and offline channels. The company's e-commerce platform offers direct-to-consumer sales, subscription options, and variety packs. In physical retail, Athletic Brewing secures placement in grocery stores, liquor stores, and specialty shops.
The brand capitalizes on seasonal trends, particularly Dry January, with targeted promotions and increased marketing efforts. Athletic Brewing's product variety, including different styles and limited releases, caters to diverse consumer preferences.
Consumer Engagement
Athletic Brewing fosters consumer engagement through various initiatives. The "Two for the Trails" program donates 2% of all sales to trail and park cleanups, appealing to environmentally conscious consumers.
The company engages with its audience on social media platforms, sharing user-generated content and athlete testimonials. Athletic Brewing hosts events and sponsors races to connect with its target market of health-conscious individuals and athletes.
Customer feedback is actively sought and incorporated into product development, ensuring the brand remains responsive to consumer needs and preferences.
Athletic Brewing and Lance Armstrong
Lance Armstrong's involvement with Athletic Brewing Company marks a significant partnership in the non-alcoholic craft beer industry. This collaboration brings together a prominent athlete and a leading brand in the growing market for alcohol-free beer alternatives.
Endorsement Impact
Lance Armstrong's endorsement of Athletic Brewing carries substantial weight in the sports and wellness communities. His well-known advocacy for an active lifestyle aligns with the brand's focus on providing flavorful non-alcoholic options for health-conscious consumers. Armstrong's backing lends credibility to Athletic Brewing's products among athletes and fitness enthusiasts.
The partnership potentially expands Athletic Brewing's reach to a broader audience interested in maintaining peak physical performance without alcohol consumption. Armstrong's influence may help the company increase its market share in the competitive beverage industry.
Athletic and Sports Marketing
Athletic Brewing's association with Lance Armstrong exemplifies their strategic approach to sports marketing. The company leverages Armstrong's reputation as an endurance athlete to reinforce their brand identity. This partnership highlights Athletic Brewing's commitment to supporting active lifestyles and athletic pursuits.
The collaboration allows Athletic Brewing to tap into Armstrong's extensive network in the sports world. This connection may open doors for sponsorships, event partnerships, and increased visibility at athletic competitions. By aligning with a high-profile athlete, Athletic Brewing strengthens its position as a go-to beverage for sports enthusiasts and health-conscious consumers.
Environmental and Social Initiatives
Athletic Brewing Company demonstrates a strong commitment to sustainability and community engagement. The company's efforts span environmental practices and charitable contributions.
Sustainability Practices
Athletic Brewing Company has achieved Certified B Corp status, a prestigious designation recognizing its commitment to social and environmental performance. This certification reflects the company's dedication to sustainable business practices and ethical operations.
Athletic Brewing prioritizes eco-friendly production methods. The brewery implements water conservation techniques and energy-efficient processes to reduce its environmental footprint.
Packaging choices also reflect sustainability goals. The company uses recyclable materials for its cans and cardboard carriers, minimizing waste and promoting recycling.
Community Contributions
Athletic Brewing's "Two for the Trails" initiative stands out as a key charitable program. Through this effort, the company donates a portion of sales to trail maintenance and outdoor recreation projects.
The program supports local and national organizations working to preserve and enhance natural spaces. This aligns with Athletic Brewing's focus on active lifestyles and environmental stewardship.
Athletic Brewing also engages in local community partnerships. The company participates in cleanup events, sponsors outdoor activities, and collaborates with environmental nonprofits to amplify its positive impact.
