Anheuser Sticks With Suds
THE CLYDESDALES WILL BE pulling a lighter load. In a restructuring that will result in write-offs of some $300 million, Anheuser-Busch said on Oct. 25 that it will shed most of its nonbeer operations. Off go the money-losing St. Louis Cardinals and Eagle Snacks, plus Busch Memorial Stadium. Plans to spin off its Campbell Taggert baking unit were announced earlier. Anheuser will stick with the brutally competitive beer business, where it has enjoyed double-digit profit growth overseas but is eking out modest earnings increases at home. "We are focusing on what we know best," explains Anheuser Chairman August Busch III.
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