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LOS ANGELES - Anheuser-Busch (NYSE:BUD), currently trading near its 52-week high of $25.36 and offering an attractive 6.37% dividend yield according to InvestingPro, announced Thursday a $7.4 million investment in its Los Angeles brewery to upgrade brewing and packaging equipment for increased production of Michelob ULTRA.
The investment is part of the company’s Brewing Futures initiative, a broader $300 million commitment to its U.S. facilities aimed at creating and sustaining American manufacturing jobs. InvestingPro analysis shows the company maintains a Fair financial health score, supporting its ability to execute such strategic investments.
"Investing in our Los Angeles Brewery enables us to brew and deliver more of the highest-quality beers that consumers love," said Brendan Whitworth, CEO of Anheuser-Busch, according to the company’s press release.
The Los Angeles facility, which opened in 1954, produces 45 different products that are distributed to 26 U.S. states. This latest investment will expand the brewery’s capacity to produce Michelob ULTRA in 25-oz cans and 15-pack slim cans to meet growing consumer demand.
According to data cited in the announcement, single-serve cans are the fastest-growing pack-size in beer this year, with Michelob ULTRA growing 7.2% in volume year-to-date. Los Angeles purchases more Michelob ULTRA than any other U.S. city. For investors seeking deeper insights into Anheuser-Busch’s market performance and growth metrics, InvestingPro offers additional exclusive financial indicators and analysis tools.
California State Senator Caroline Menjivar of the 20th District noted that the investment "will only further contribute to the success of our community, keeping jobs in Senate District 20 at a time when so many are commuting far for good paying jobs."
Anheuser-Busch has invested $180 million in the Los Angeles brewery over the past five years, part of nearly $2 billion invested across its 100 U.S. facilities during that period.
The company’s Brewing Futures initiative focuses on creating manufacturing jobs, advancing technical skills training, and strengthening manufacturing career opportunities for veterans.
In other recent news, Anheuser-Busch has announced a significant investment of $15 million in its St. Louis brewery operations. This investment is part of a broader $300 million plan aimed at bolstering U.S. manufacturing jobs. The funds are allocated to enhance the supply chain infrastructure, which will facilitate the transportation of American-grown ingredients to the brewery and ensure efficient delivery of finished products to customers. This development underscores Anheuser-Busch’s commitment to supporting local manufacturing and improving operational efficiency. The company has not disclosed specific timelines for the completion of these infrastructure improvements. No additional details about the broader $300 million plan were provided at this time.
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