Anheuser-Busch InBev will invest $500 million in its U.S. operations this year, including more than $20 million in the St. Louis area, the world’s biggest brewer said Monday.
The capital spending program represents “a huge vote of confidence” in the brewer’s U.S. operations, said João Castro Neves, president of North American operations for A-B InBev.
Through 2020, the company says, it plans $500 million per year in U.S. capital expenditures — a total of $2 billion — which Castro Neves said was “probably one of the biggest” capital investment programs ever announced by a U.S. brewer.
Castro Neves said he wasn’t sure whether the $500 million in spending on U.S. operations this year was an increase from last year, but it does represent an increase from the average over the last seven years of $400 million to $450 million.
The announcement touting the capital investment comes on the heels of Belgium-based A-B InBev’s announcing major cuts in capital expenditures worldwide. In its outlook for the year, the world’s largest brewer said it would cut capital expenditures by more than $1 billion this year, though it didn’t break out how much of that would affect Anheuser-Busch operations in the U.S.
Read more: St. Louis Post-Dispatch