Anheuser-Busch has acquired 29% of Harbin Brewery Group Ltd., a brewer in China, for $139 million.
Harbin is one of the oldest brewers in China and produces Hapi beer brand, Anheuser-Busch said.
“Harbin fits our strategy of investing in leading companies in growth markets like China with good volume and profit growth potential,” said Patrick Stokes, president and CEO of Anheuser-Busch, in a statement.
The investment marks the second in China for the St. Louis-based brewer. In 1993, Anheuser-Busch became a minority investor in Tsingtao Brewery Co., Ltd. It currently has a 9.9% stake in Tsingtao with an agreement to increase its ownership to 27% over the next several years.
Anheuser-Busch also owns a 50% share in Grupo Modelo, a Mexican brewer.
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