Anheuser Busch InBev (BUD) - Get 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 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.
Watch More with TheStreet:
- Carly Fiorina's Advice to Young Women: Don't Let Other People Define You
- From Catalogs to Catastrophe: A Sears Timeline
- Chipotle May Not Recover Until 2019 After Latest Health Scare
- T-Mobile's John Legere Is Inarguably One of the More Colorful CEOs on Twitter
- Shark Tank Star Kevin O'Leary Just Revealed This One Way Entrepreneurs Are Getting Savvier