Keurig Dr Pepper invests in non-alcoholic beer brand

BURLINGTON, MASS. — Keurig Dr Pepper (KDP) has acquired a minority stake in non-alcoholic craft beer producer Athletic Brewing Co. In change for the $50 million funding, KDP now holds an fairness stake akin to different lead traders, together with TRB Advisors and Alliance Client Progress, and could have a seat on the corporate’s board of administrators.

Athletic Brewing’s product line gives shoppers greater than 40 totally different non-alcoholic beer choices, reminiscent of roasted caramel flavored Stump Soar Autumn Brown, dry and crisp Blueberry Mosaic, and Mexican impressed Cerveza Atletica.

The corporate holds 55% of the non-alcoholic beer market share in the USA, in line with KDP, which grew practically 20% in retail {dollars} from August 2021 to August 2022.

“Athletic Brewing is a profitable model in a quickly rising beverage section,” mentioned Bob Gamgort, govt chairman of KDP. “Our funding displays our curiosity and talent to maneuver into thrilling white areas, together with within the blurring of the alcoholic and non-alcoholic classes.”

KDP beforehand invested within the non-alcoholic section in June 2022, buying the worldwide rights to ready-to-drink cocktail brand Atypique for an undisclosed quantity.

The minority funding indicators the continuation of KDP’s capital allocation and development technique, which emphasizes mergers, acquisitions and model partnerships.

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