Bill Shufelt and John Walker founded Athletic Brewing in 2017 based on an absurd proposition — that beer could taste great even when it’s missing a key byproduct of fermentation, alcohol.
The odds of success at brewing nonalcoholic craft beer may have seemed low, in a craft beer industry dominated by double and triple IPAs with alcohol-by-volume that can top 10%.
Shufelt and Walker not only defied expectations, they were at the forefront of a cultural shift.
Athletic Brewing was the first brewery and taproom in the United States dedicated to producing nonalcoholic craft beer.
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What began as a modest experiment between Shufelt, a former hedge fund trader and marathon runner, and Walker, an award-winning brewer, has risen to become the 10th-largest craft brewery in the country.
Athletic Brewing has grown from producing 875 barrels in 2017 to over 258,000 barrels in 2023.
The brewery outgrew its original Stratford location and moved to a 150,000-square-foot facility in nearby Milford in 2022. (Its Stratford facility is still used for experimenting with new products.)
Athletic Brewing in 2020 acquired its second brewery, a facility previously owned by Ballast Point in San Diego.
Last year, the company secured a $50 million equity financing investment to help position it for long-term growth.
Athletic Brewing’s growth has been described as “meteoric.” It has landed on Inc.’s list of the fastest-growing private U.S. companies for the past two years, with 313% three-year growth reported in 2023.
Shufelt serves as CEO, while Walker is chief operating officer.