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Anheuser-Busch ventures into water business

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By AP/KWMU

St. Louis, MO – The nation's leading beer-maker is getting into the water business.

Anheuser-Busch announced today (Wednesday) it will distribute Icelandic Glacial spring water in the U.S. And as part of the agreement with Icelandic Water Holdings, Anheuser-Busch bought a 20% equity interest in the Iceland-based company.

Terms were not disclosed, but the deal marks the first time St. Louis-based brewer has ventured into bottled water. The industry has sales in the U.S. of nearly $11 billion.

Anheuser-Busch President and CEO August Busch IV says the company is "looking for opportunities outside the alcohol beverage category to fuel additional growth."

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