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Economy & Business

Anheuser-Busch InBev looks to expand in Europe

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(UPI/Bill Greenblatt)
The St. Louis headquarters of Anheuser-Busch (now owned by InBev). The company says it's looking to expand its market base in Europe. (UPI/Bill Greenblatt)

Brewing giant, Anheuser-Busch InBev, is looking to grow its market base in Europe after reports project higher savings than expected.

The producer of hoppy classics like Budweiser and Stella Artois is looking forward to some $.75 billion in savings, says Chief Executive Carlos Brito.

“Thanks to cost-cuts through synergies we aim to save $2.25 billion, significantly more than the $1.5 billion we originally expected to save,” Brito told Welt am Sonntag on Sunday.

Brito went on to say the company was hoping to put that savings toward growing the business and taking part in consolidation within the market. He named Germany as one possible target.

Expanding its base in Europe might seem like a bad move with Europe’s beer consumption on the decline, but the company is expecting to see a 15 percent increase in its fourth-quarter profits this Thursday, according to Reuters.  

“Consumption is rising especially in peripheral countries in Asia and South America,” Brito said.

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