AB InBev Moving Beyond Alcohol, Buying Energy Drink Maker
AB InBev teaming up with the San Francisco-based Hiball, a maker of organic energy drinks and carbonated juices and water.
Anheuser Busch InBev (BUD) - Get Anheuser-Busch InBev SA/NV Report is looking for opportunities outside of alcoholic beverages and on Thursday said it purchased energy drink maker Hiball Inc., for an undisclosed sum, the Wall Street Journal reported.
The company signed a deal with Starbucks (SBUX) - Get Starbucks Corporation Report last year to sell ready to drink tea and is now teaming up with the San Francisco-based Hiball, a maker of organic energy drinks and carbonated juices and water.
"We're looking for high growth, high margins," Joao Castro Neves, chief executive of AB InBev's U.S. subsidiary Anheuser-Busch said, according to the Journal. Teaming with Hiball seemed the "natural place to go," he added.
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