SAM - Anheuser-Busch InBev backs hard seltzer push with $1B investment

Anheuser-Busch InBev ([[BUD]] -1.2%) plans to invest over $1B in its U.S. manufacturing facilities over the next two years as it looks to push deeper into the hard seltzer market.The beer giant came late to the hard seltzer game, but is now getting more serious about grabbing market share from leaders White Claw and Boston Beer's (SAM) Truly."We need to build more seltzer capacity so we can attend the demand from consumers, which is a growing demand,"  Anheuser-Busch CEO Michel Doukeris tells Reuters.In particular, Doukeris says the new Michelob Ultra organic seltzer requires a huge investment. Per Nielsen numbers, Bud Light Seltzer was holding at 10% market share last month. Industry-wide flavored malt beverage sales are strong from retail channels.

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Anheuser-Busch InBev backs hard seltzer push with $1B investment