Anheuser-Busch Investing $2 Billion in U.S. to Move Beyond Beer

Alcoholic beverage maker Anheuser-Busch Inbev  (BUD) , best known for its Budweiser products, is going to use $2 billion in U.S. capital spending to boost its flagship brand and improve distribution, Bloomberg reports. The money will also be used to support the company's venture into different beverage endeavors.

The move was sparked by the rise in competition in the U.S. from craft brews and other cocktails. The investment extends through 2020.

"What we are trying to do is the 'and' and not the 'or,'" Anheuser-Busch CEO Joao Castro Neves told Bloomberg. The goal is to extend its business without ignoring the company's core field.

Shares of Anheuser-Busch were lower slightly early Monday afternoon.

Jim Cramer and the AAP team are discussing fallout from first-quarter earnings from Apple (AAPL) and Facebook (FB) and how to play the big tech names. Get his insights or analysis with a free trial subscription to Action Alerts Plus.

If you liked this article you might like

10 Winter Beers Here Before Halloween

Democrats Target Megamergers in Populist Political Play

Walmart Is One of 63 Companies Contributing Massively to Aid Harvey Relief

Corporate America Wants a Piece of the Mayweather, McGregor Money Giveaway

With Eyes on Solar Eclipse, Wall Street Stumbles Yet Again