Transaction furthers company’s moves into emerging beverage categories
Keurig Dr Pepper Inc. (KDP), Burlington, Mass., and Frisco, Texas, announced a minority stake in Athletic Brewing Co., a leading non-alcohol craft beer maker. The transaction represents KDP’s latest move into rapidly emerging beverage categories, following its acquisition of non-alcohol ready-to-drink cocktail brand Atypique.
The $50 million investment by KDP provides the company with an equity stake in Athletic Brewing that is comparable to other lead investors, namely TRB Advisors and Alliance Consumer Growth. KDP will have a seat on the company’s Board of Directors. Further terms of the deal were not disclosed.