Athletic Brewing Scores With New Investor in Nonalcoholic Beer

Keurig Dr Pepper Inc. has taken a $50 million minority stake in Athletic Brewing Co., expanding its investment in the increasingly popular nonalcoholic beer and cocktail category.

The investment makes Keurig Dr Pepper one of the company’s top stakeholders, alongside TRB Advisors and Alliance Consumer Growth, according to a statement. Other terms of the investment were not disclosed.

Athletic Brewing began in 2017 in Stratford, Connecticut, where the company’s first brewery was built. It now has a second brewery in San Diego. “This investment will enable Athletic Brewing to further accelerate our growth across North America,” said ...