Athletic Brewing raises $50 million as nonalcoholic wave sweeps beer making
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Athletic Brewing Company Funding: Athletic Brewing Company raised $50 million in equity financing led by General Atlantic, with plans for further investment.
- Company Growth and Market Share: Despite offering only nonalcoholic options, Athletic Brewing is the 10th largest U.S. craft brewery and holds over 19% market share within nonalcoholic beer.
- Revenue and Valuation: The company's revenue has more than doubled since its Series D funding round, and its valuation has now reached $800 million.
- Expansion Plans: Athletic Brewing plans to use the latest investment to increase production capacity, expand offerings at global retailers, and double its U.S. brewing capacity with a new facility in San Diego.
- Consumer Trends: The success of nonalcoholic beverages like those offered by Athletic Brewing is attributed to growing health and wellness trends, with more Americans, especially millennials and Generation Z, actively trying to drink less alcohol.
Analyst Views on DEO
Wall Street analysts forecast DEO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for DEO is 88.46 USD with a low forecast of 24.85 USD and a high forecast of 131.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
1 Buy
3 Hold
0 Sell
Hold
Current: 91.180
Low
24.85
Averages
88.46
High
131.00
Current: 91.180
Low
24.85
Averages
88.46
High
131.00
About DEO
Diageo plc is a United Kingdom-based international manufacturer and distributor of premium drinks. The Company offers beverage alcohol with a collection of brands across spirits and beer categories. Its segments include North America, Europe, Asia Pacific, Latin America and Caribbean, Africa, and Corporate and other. The SC&P segment manufactures products and includes production sites in the United Kingdom, Ireland, Italy, Guatemala and Mexico, as well as comprises the global procurement function. Its principal products include scotch whisky, whisk(e)y, vodka, tequila, gin, rum, liqueurs, beer, wine, and non-alcoholic spirits. Its collection of brands includes Johnnie Walker, J&B and Buchanan's whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Don Julio, Guinness, and Tanqueray, among others. It offers Ritual Zero Proof Non-Alcoholic Spirits (Ritual). It owns manufacturing production facilities across the globe, including distilleries, breweries, and packaging plants.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
