Kelce receives enormous $200M boost after – Sports News
Kansas City Chiefs star Travis Kelce turned a majority proprietor of Garage Beer in June 2024 alongside his brother, Jason, and the company has now been valued at $200 million.
Kelce is in Sao Paulo, Brazil, making ready for the Chiefs’ opening NFL recreation of the season in opposition to the Los Angeles Chargers. It’s been a busy summer season for Kelce, who has been making ready for what could possibly be his closing 12 months within the NFL.
Ahead of the 2025 season, Kelce has been making probably the most of his free time with Taylor Swift, and they’re now engaged to be married. Just weeks after the life-changing information, the Kelce brothers have obtained a gorgeous valuation on their beer company.
According to the Wall Street Journal, Garage Beer was valued at $200 million following its first institutional spherical of fundraising. The company will now obtain investment from Durational Capital Management, a personal equity investor.
The gentle beer model was initially established by Braxton Brewing Company and Andrew Sauer earlier than the Kelce brothers obtained concerned. Sauer works behind the scenes to handle the company and strategize its future plans, whereas the Kelces present main investment and publicity.
The partnership has labored wonders, with Garage Beer set to attain between $60 million and $70 million in income this 12 months. It’s a important soar from 2024, when the company had much less than $20 million in income.
With the Kelces on board, Sauer has prioritized building off the fanbase they’ve drawn to Garage Beer. Staff members attempt to answer all social media messages, and the Kelces are sometimes plastered on billboards and promotional materials at occasions.
While the Kelces could be the face of the model and use their reputation to drive gross sales, they’re nonetheless lively in business discussions. According to Sauer, Jason Kelce known as him on Labor Day to suggest concepts.
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“It’s pretty emblematic on how they both operate,” Sauer mentioned. “It’s an always-on relationship. It’s two people with the same vision and belief in beer, jumping into it.”
Speaking after his initial investment in 2024, Jason Kelce mentioned: “People crave quality and simplicity, and Garage Beer nails both for me. We (he and Travis) are light beer drinkers, and Garage is the best light beer.
“For me, the model suits my life-style, and having a few beers is a great excuse to get the neighbors collectively.” Travis Kelce then added: “It comes down to high quality for me. I believe everybody is aware of I prefer to have a couple beers every now and then, so being an proprietor of Garage Beer and closely concerned in making the best gentle beer is thrilling, man!
“There is nothing better to bring people together than an ice-cold beer, and for Jason and me that is what beer is all about – friends, family and fun. I have worked with Andy for years and I really trust the team and their approach to running the business. We look forward to taking Garage Beer to the next level.”
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