Gen Z loves sobriety so much that America's biggest non-alcoholic beer brand just doubled its valuation to $800 million

(Credit: Courtesy of Athletic Brewing)

The biggest nonalcoholic beer brand in the U.S. just got more valuable thanks in part to Gen Z’s efforts to make sobriety cool.

Athletic Brewing, cofounded by hedge fund trader turned chief executive Bill Shufelt in 2018, nearly doubled its valuation to about $800 million in just two years following a $50 million equity financing round led by growth equity firm General Atlantic, the Wall Street Journal reported, citing people familiar with the matter.