Anheuser-Busch InBev (AB InBev), a multinational drink and brewing holdings company based in Belgium, disclosed that the total investment the company has made in its new brewery in Sagamu, Nigeria, should sum up to about $400 million.
The Chief Executive Officer of AB InBev, Carlos Brito disclosed the news while responding to reporters’ questions at a media briefing in Johannesburg, South Africa. He noted that the brewery has started operations and its capacity will be expanded in phases.
According to Brito, “Nigeria is becoming a more and more important market as we grow in that market. I mean we’re growing double digits, we didn’t grow in the past as fast because we were lacking capacity and now that we have capacity, strong brands and a great group of people we’re challenging the status quo there”.
In 2018, the company entered the Nigerian beer market by establishing a brewery worth $250 million. The company said the plan was to make Nigeria its second largest operation in Africa, behind South Africa.
The brewery is situated at KM 3, Flowergate Industrial Scheme, along the Sagamu-Abeokuta Expressway, Ogun State. Following its launch, the company introduced the American lager brand, Budweiser, which is also known as the supposed ‘King of beers’.
AB InBev was formed through InBev (itself a merger between Interbrew from Belgium and AmBev from Brazil) acquiring Anheuser-Busch from the United States. Aside from its head office in Belgium, the company has additional offices located in São Paulo, New York City, London, St. Louis, Mexico City, Bremen, Johannesburg, and others.