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Dear Client: You probably don’t see many distributor conventions quite like New Belgium’s. Then again, you don’t see many breweries doing what New Belgium is doing. It’s one of the few craft brewers to find continued success after being sold to a larger supplier. In fact, it’s one of the only big breweries growing nowadays, and certainly one of the only large crafts bucking the category’s decline. It has a fast-growing import in Kirin, a rock of a regional in
Halfway Through 10-Year Plan, A-B Sizes Billions of Run Room in Newer Spaces
Dear Client: Anheuser-Busch InBev used its 2026 Capital Markets Day in St. Louis this week (which kicked off Tuesday) to declare the halfway point of its 10-year plan, moving from the first-half phase it calls “Re-Set” into its “next” growth phase, dubbed “Re-Ignite.” For the next half-decade, CEO Michel Doukeris vowed to keep compounding results while spending more to accelerate. The financials are in good shape. Nominal EBITDA has grown from $19.2bn in 2021 to $22.4bn over the last twelve
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