Athletic Brewing

Shufelt left a position at a hedge fund to co-found the company with brewer John Walker after identifying a gap in the market for quality alcohol-free beer. The first facility opened in Stratford, Connecticut in May 2018, and commercial products launched that year. The headquarters subsequently moved to Milford, Connecticut, where Athletic Brewing operates a 150,000-square-foot brewery believed to be the world's largest dedicated alcohol-free brewery. A San Diego facility, acquired in 2020, was further expanded in October 2025, doubling annual capacity from 600,000 barrels to nearly 1.2 million barrels.

The brewing process uses hops, malted barley (including organic malt), water, and yeast, with additional ingredients including oats, raspberry puree, and espresso beans in certain products. Athletic Brewing holds several proprietary and patent-pending processes, and is one of the only breweries to supply alcohol-free beer on draft, deploying its own staff to bars to ensure it is served correctly. The company is an active proponent of tunnel pasteurisation and applies the process to every can it produces.

The range spans lagers, IPAs, stouts, and porters, alongside seltzers and hop water available under the Daypack brand. Athletic Brewing positions itself for active-lifestyle and fitness-focused drinkers. Several of its drinks have won awards.

By 2023 Athletic Brewing had become the top-selling alcohol-free beer brand family in the United States by dollars, with full distribution across all 50 states and availability in over 50,000 stores and 10,000 bars and restaurants. The company holds approximately 17% volume share of the U.S. alcohol-free beer market and employs around 300 people. Its Athletic Club subscription service sells direct to consumers.

Investors include a number of athletes and celebrities, and the company raised $50 million in equity financing led by General Atlantic in July 2024, at a valuation of $800 million. Athletic Brewing has official partnerships with Arsenal Football Club, Live Nation across 100 music venues, and Netflix. Through its Two For The Trails programme, the company donates up to $2 million each year to trail restoration, with cumulative contributions exceeding $6 million.