Spanish company Mahou San Miguel is looking to expand its international sales, eyeing up continental Europe with a €50m ($54.4m) investment plan.

Under the initiative, spanning from 2023 to 2027, the company aims to double its sales volume in the region.

The strategy includes a plan to drive sales of its San Miguel beer brand in European markets.

Mahou San Miguel said it had seen San Miguel sales volumes grow 17% in the first half of the year. The plan involves expanding San Miguel's presence beyond the UK.

A pan-European marketing push for San Miguel, which started last year, has "strengthened the brand's position as the best-selling and most recognised Spanish beer on the continent".

Elena Reviriego, general manager of Mahou San Miguel's international business unit, said: “We have a great opportunity with San Miguel in continental Europe to capitalise on the growth potential of the international premium category at a sweet moment for Spanish beer outside our borders.

“Tourism is another strategic asset, not only as a source of business, but because it allows us to deploy a unique positioning for the brand that unites its international essence with its local relevance and impacts consumers in different countries, inside and outside of Spain.”

Mahou San Miguel stands as the fourth largest beer producer in Europe.

With international sales comprising 21% of its total beer business, the company boasts a presence in over 70 countries.

In July, it was announced Anheuser-Busch InBev will take over the production, distribution and promotion of San Miguel beers in the UK from Carlsberg next year.