Sector News

Anheuser-Busch announces $1bn investment to drive US economic recovery

February 5, 2021
Consumer Packaged Goods

Anheuser-Busch has announced an investment of more than $1 billion over the next two years in its facilities and communities across the US.

With its investment, the brewer is looking to drive economic prosperity in communities across the US, strengthen its connections with consumers and support the more than 2.1 million jobs related to the beer industry.

The capital expenditure programme across 26 states will be used to expand its operations – in particular its hard seltzer production – support ongoing industry job creation and sustainable innovations. Anheuser-Busch is committing nearly $100 million towards sustainability projects including solar panel instalments, water treatments and other similar initiatives.

“We need to build more seltzer capacity so we can attend the demand from consumers, which is a growing demand,” Anheuser-Busch CEO Michel Doukeris told Reuters, adding that the company’s new Michelob Ultra organic seltzer also requires “huge” investment.

According to Reuters, nearly $400 million will be injected into 12 of Anheuser-Busch’s major breweries, while more than $100 million will go towards new can manufacturing lines to meet demand for single-serve cans.

The announcement of the investment comes during the Covid-19 pandemic, as the country looks to recover from job losses and economic decline. The brewer operates more than 120 facilities across 27 states.

“We are committed to protecting peoples’ livelihoods across our entire supply chain – from farmers and bartenders to truck drivers and team members in our own facilities,” said Dave Taylor, US chief supply officer at Anheuser-Busch.

He added: “By investing in these communities and their capabilities, we’re ensuring that together, with all of our partners, we can brew and deliver great beer for many years to come.”

Michel Doukeris, CEO of Anheuser-Busch, said: “We are here to find a better way to lead a safe and strong recovery, and we’re starting by investing across our US supply chain to protect the industry and the millions of people who rely on it for their livelihoods. These investments are immediate and happening now.”

Anheuser-Busch says it supports the US agricultural community, sourcing the majority of its ingredients from more than 900 American farms. Last year, Anheuser-Busch Foundation committed $530,000 to four US land grant universities to advance sustainable agricultural practices. The company has also announced its support towards the recovery of the bar and restaurant industry through various donations.

By Emma Upshall

Source: foodbev.com

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