Sector News

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

February 5, 2021
Food & Drink

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

comments closed

Related News

December 3, 2022

AI central to Nestle’s innovation overhaul

Food & Drink

Nestle SA has accelerated its product development process by 60% since 2016, according to the company. The faster speed to market has been achieved through a restructuring of its research and development process. Now the company is investing in various forms of artificial intelligence (AI) and machine learning to further improve its R&D process and generate better results.

December 3, 2022

Takeover on the horizon? Brenntag makes preliminary indication of interest for Univar Solutions

Food & Drink

German chemicals distributor Brenntag has confirmed potential takeover talks with US rival Univar Solutions and is understood to be debating the feasibility of a potential acquisition in the coming months. Univar Solutions confirms that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.

December 3, 2022

Cargill announces purchase of Owensboro Grain Company

Food & Drink

Cargill has announced the acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Kentucky. The purchase of the Owensboro-based company will support Cargill’s efforts to “modernise and increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets”.