Keurig Dr Pepper (KDP) has announced its acquisition of a minority stake in US non-alcoholic craft beer maker, Athletic Brewing Company.

The $50 million investment will result in KDP having a seat on Athletic Brewing’s board of directors as well as an equity stake in the company “that is comparable to other lead investors”.

Athletic Brewing founder, Bill Shufelt, said: “We’re thrilled to welcome Keurig Dr Pepper as an investor and strategic partner. Their team brings a tremendous amount of expertise and truly embraces our mission of brewing great-tasting non-alcoholic beers that are fit for all times. This investment will enable Athletic Brewing to further accelerate our growth across North America.”

Founded in 2017, Athletic Brewing now has a line-up of more than 40 brews and this year was named the 26th fastest-growing private company in America by Inc Magazine.

“Athletic Brewing is a winning brand in a rapidly growing beverage segment,” said KDP’s executive chairman, Bob Gamgort. “Our investment reflects our interest and ability to move into exciting white spaces, including in the blurring of the alcoholic and non-alcoholic categories.”

The transaction follows KDP’s acquisition of non-alcoholic ready-to-drink cocktail brand, Atypique, earlier this year.