Budweiser to focus on growing high-end beer market, acquisitions in Asia
- The largest beer company in Asia-Pacific by sales last year is in the process of raising up to US$9.8 billion in a Hong Kong IPO
- Shares to debut on July 9
Budweiser Brewing Company APAC, the Asian business of Belgian beer giant Anheuser-Busch InBev (AB InBev), will focus on growing its premium brands while seeking opportunities to partner with or acquire local brewers, company officials said on Thursday.
Budweiser, the largest beer company in Asia-Pacific by sales last year, is in the process of raising up to US$9.8 billion in a Hong Kong listing, which is set to surpass Uber to become the world’s largest initial public offering this year.
“We want to continue premiumising and offer more choices to consumers,” said Jan Craps, chief executive of Budweiser.
High-end beers represent the fastest-expanding segment in the Asian beer market, according to Budweiser’s prospectus, which cites data from industry consultancy GlobalData.
The region’s premium and super-premium segments showed 11 per cent annual revenue growth over the past five years, compared to 3 per cent annual growth for the overall market. The segments are likely to make up 45 per cent of the overall Asian beer market, rising from the current 38 per cent, according to the prospectus.
Budweiser, which sells 50 brands in Asia, is already the top player by sales in the high-end beer segment in several markets including China and India.
