AB InBev Gears Up for Beer Boost From World Cup Soccer Games
- Brewer’s earnings rise 6.6%; CEO ‘confident’ of acceleration
- Company ramps up investment in marketing, U.S. supply chain
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Anheuser-Busch InBev NV’s is ramping up spending on marketing initiatives ahead of the soccer World Cup this summer after promotions helped buoy demand in Colombia and Peru.
Budweiser’s campaign for the World Cup, the most-watched sporting event globally, began this week. The initiative comes as AB InBev, the world’s largest brewer, works to drive more revenue from athletic tournaments and social occasions after the past decade’s influx of smaller brands weaned drinkers off its mass-market brews. To address that challenge, the Leuven, Belgium-based company is investing $2 billion in promoting its brands and improving supply chains in the U.S.