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Wednesday, August 6, 2014

AB InBev creates US business unit for premium beers, (NYSE: BUD)

Anheuser-Busch InBev (AB InBev), known for its mass market Budweiser beer, is creating a new business unit in the United States devoted to premium beers as it tries to improve its presence in a fast-growing segment of the beer market.With young drinkers increasingly interested in spirits and other drinks, the U.S. beer market shrank 1.9 percent in 2013 to 196.2 million barrels, according to the Brewers Association trade group. Yet "craft" beers, or those made by small, independent brewers, rose 17.2 percent.The new unit, which will include AB InBev brands such as Goose Island and Blue Point, will be based in Chicago, which places it "in closer touch with urban consumers, their way of thinking, lifestyle and the accounts they visit," said an internal announcement made on Wednesday and seen by Reuters.It will be led by Felipe Szpigel, who joined the brewer 15 years ago as a global management trainee.

Anheuser-Busch InBev SA, formerly Anheuser-Busch InBev SA/NV, is a brewing company. Shares of BUD fell by 0.18% or $-0.19/share to $107.61. In the past year, the shares have traded as low as $92.76 and as high as $116.65. On average, 1100450 shares of BUD exchange hands on a given day and today's volume is recorded at 766659.