Bud Makes A Mexican Foray
American beer giant Anheuser-Busch figures where there's thirsty folks there's money to be made. On Mar. 22, it plunked down $477 million for 18% of Mexican brewmaster Grupo Modelo, which produces Corona, the top-selling brew in fast-growing Mexico. The Mexican foray followed news three days earlier of Bud's joint venture with Japan's Kirin Brewery to market Budweiser brands in that country. With a lock on 44% of the U.S. beer market and further big gains unlikely, Anheuser executives have made no secret of their desire to push more aggressively into faster-growing international markets.