AB InBev Set to Expand to China
The world's largest beer brewer, Anheuser-Busch InBev NV is planning acquisitions in China in view of the increasing demand for bear in the world's third largest market.
According to AB InBev CEP Carlos Brito, the business in China is growing at a 'double digit rate, so that's very good.' He added, "We also have plans for inorganic growth because we have parts of the country where we have no breweries but where we sell our brands. It makes sense to have the production place closer to the consumption place."
The Belgian manufacturer of Budweiser beer is planning to boost its capital spending to US$3.7 billion for 2013 as it expands into Brazill and China. One of the plans is to build breweries in western China in the next three years and then focus on expansion to the coastal provinces and beyond.
Previously, AB InBev unsuccessfully sought to acquire Kingway Brewery Holdings but instead was bought out by China Resources Snow Breweries.