Growing Demand in Non-Alcoholic Category Drives Partake Brewing’s $16.5M Series B Funding

New Investors PowerPlant Partners and Amberstone Join Returning Investors CircleUp, Barrel Ventures, Export Development Canada (EDC) and McLean & Associates to Fuel Expansion in the U.S. and Canada

CALGARY, Alberta, March 7, 2022–(BUSINESS WIRE)–Partake Brewing, a leading North American non-alcoholic beer brand that brings everything that makes craft beer great to its brews, today announced it has raised $16.5 million US dollars in a Series B funding round. The fundraising was led by US investors PowerPlant Partners and Amberstone, with support from existing investors CircleUp Growth Partners (CircleUp), Barrel Ventures and McLean & Associates . This Series B follows the brand’s first institutional funding round in 2020, where it raised US$4 million. Partake continues to work closely with Export Development Canada (EDC) to support its growth as it scales and expands internationally.

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Partake Brewing – United States (Photo: Business Wire)

Demand for Partake’s delicious 10-30 calorie non-alcoholic beer has exploded since the brand’s debut in 2017, alongside the booming non-alcoholic category which is expected to grow at 25% CAGR and reach a value of $5 billion. dollars by 2025. New investments will enable continued growth in the U.S. and Canadian markets, including building brand awareness and consumer love, making Partake accessible to millions of potential new customers who want to drink less. alcohol and adopt a healthier lifestyle. The brand will seek to expand its retail presence, providing the opportunity to land on more shelves and reach new geographic markets while expanding distribution across major channels. Partake plans to expand its regional teams, including key leadership roles to further shape growth. Finally, this investment will create new opportunities to create exciting and unique limited releases to add to Partake’s line of great tasting 10-30 calorie non-alcoholic beers.

“Growing Partake at such an accelerated pace has been an incredible journey and we are honored to have the strong support of these investors behind us as we expand our mission to create a more inclusive drinking culture,” said Ted Fleming, Founder and CEO. from Partake Brewing. “We look forward to the continued growth that these investments will enable us to achieve in the near future.”

There is an undeniable and rapid shift in consumer preferences and interest in the non-alcoholic beer segment, driven by trends in health and wellness better for you. While some people cut out alcohol altogether, many opt for an NA beverage rather than an alcoholic one across the occasions and embrace NA as part of their weekly full-strength drinking repertoire.

“We are thrilled to partner with Ted and the team at Partake as they build what we believe will be one of the flagship brands in this new and soon to be multi-billion dollar category,” said Mark Rampolla , co-founder and director. Director of PowerPlant Partners. “I am personally a regular Partake consumer and know that I am not the only one as many beer lovers are looking for healthier yet tastier NA options.”

Partake was founded in 2017 by Ted Fleming, a former engineer on a mission to eliminate the stigma attached to drinking non-alcoholic beer. After a Crohn’s diagnosis led him to give up alcohol, he experienced a category traditionally poor in selection and taste, and choosing an NA brew only invited judgment. in most social contexts. This ultimately inspired him to brew his own, providing consumers with a variety of flavorful, low-calorie, alcohol-free beers suitable for all occasions and locations. Fleming’s belief is that giving up alcohol shouldn’t mean giving up the social connection that comes with it. Thus, the brand’s quest for premium taste and selection has been rooted in a goal of inclusivity: enabling everyone to participate in the present moment. To celebrate this move, Partake recently launched its Cheers to adulthood brand campaign. Through this platform, Partake aims to prove that becoming an adult is not about being an opponent of the straight line, but about connecting with others and being part of the fun while being proud of the evolution of interests and priorities that arise at this stage of life.

Consumers consistently seek out Partake for its exceptional taste, unmatched calorie count (10-30 calories per can), all-natural vegan ingredients, and brewing process. Partake currently offers PALE, IPA, BLONDE, RED, DARK (USA), STOUT (Canada), PEACH GOSE and limited seasonal editions including RADLER, LIME as well as the new HAZY IPA. As the recipient of numerous international awards for high quality products and innovation, including a Gold Medal at the World Beer Awards for Best Non-Alcoholic Beer, Partake is a leader in the North American beer industry. non-alcoholic craft beer.

About Partake Brewing

At Partake, we’re on a mission to prove that alcohol doesn’t have a monopoly on good times. Taking a beer break shouldn’t mean sacrificing the social connection that comes with it. Brewed by beer lovers for beer lovers, Partake is the non-alcoholic beer you can proudly drink on any occasion. Partake Brewing has become a leader in non-alcoholic beer in North America. Distribution continues to grow at major retailers across Canada, and US Partake is praised for its authentic craft beer flavor, wide selection, and game-changing low calorie content. Making more responsible decisions never tasted so good, so raise a can of Partake and say “Cheers To Adulting.”

For more information about Partake Brewing and its non-alcoholic beers, please visit https://drinkpartake.com or follow on Instagram at @PartakeBrewing or on Facebook at https://www.facebook.com/DrinkPartake.

About PowerPlant Partners

PowerPlant Partners is a global leader investing in companies that are better for people and the climate. The company provides capital, strategic advice and operational expertise to visionary companies including Beyond Meat, Thrive Market, Ripple, Veggie Grill, Apeel Sciences, Liquid Death, Miyoko’s Creamery, Vive Organic and Partake Brewing.

About Amberstone

Amberstone supports ambitious entrepreneurs who transform branded consumer goods companies into nationally distributed category leaders. Amberstone combines rigorous data-driven analysis and extensive CPG experience to provide capital and targeted partnership to help entrepreneurs achieve their visions. Current and former partner brands include Honey Mama’s, JuneShine, Cleveland Kitchen, Daily Harvest, Chameleon Cold Brew and Frida. For more information, visit: https://www.amberstone.com/

About CircleUp

Founded in 2009, CircleUp is a private company whose mission is to give entrepreneurs the funding and support they need to thrive. Having facilitated investments for over 500 brands and counting, CircleUp uses its enterprise technology platform, Helio, to increase the speed, quality and objectivity of decision-making in the private enterprise landscape. Using a unique combination of data and machine learning technologies, CircleUp enables underserved entrepreneurs to finally get the support they deserve. With a vast network of entrepreneurs, institutional investors, industry experts and flexible financing solutions, CircleUp shines a light on untapped human potential and transforms the world of private enterprise. For more information, please visit: http://www.Circleup.com.

About EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses of all sizes succeed on the world stage. As global risk experts, we equip Canadian businesses with the tools they need – the business knowledge, financing solutions, equity, insurance and relationships – to grow their business with confidence. Underlying all of our support is a commitment to sustainable and responsible business.

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contacts

US PR contact: KLG Public Relations | [email protected]
Contact PR CANADA: Praxis PR | Marissa Tiano I [email protected]