Yes, Budweiser is still produced and managed under the Anheuser-Busch umbrella, but the corporate ownership structure has expanded globally. Anheuser-Busch was acquired by InBev, a massive multinational brewing conglomerate based in Belgium, forming Anheuser-Busch InBev (AB InBev). Therefore, while the historic American brewing operations remain rooted in St. Louis, Missouri, the ultimate corporate parent entity is a sprawling, publicly traded international beverage giant headquartered overseas.