COPENHAGEN (Reuters) - Carlsberg (CARLb.CO) said on Wednesday it will increase capacity its Kronenbourg brewery in Obernai, France, its largest in Europe, with a 100 million euro ($117 million) investment.
The investment, which will modernize the Kronenbourg brewery and increase capacity, comes after international success of French beer brands such as Kronenbourg 1664, the Danish brewer said.
Carlsberg, the world’s third-largest brewer behind Anheuser Busch InBev (ABI.BR) and Heineken (HEIN.AS), has for years seen stagnating growth in Western European, but has recently benefited from higher prices as consumers opt for more premium beers.
The brewer relies on mature markets in Western Europe for more than half of its sales.
The announcement was made during a visit by French President Emmanuel Macron to Copenhagen.
Carlsberg acquired Kronenbourg in 2008.
Reporting by Jacob Gronholt-Pedersen; editing by Jason Neely