Foster's GroupFoster's Group Foster's Group, Melbourne, Australia Foster's Lager
Foster's GroupFrom Wikipedia, the free encyclopedia
Foster's Group is a beer group with interests in brewing, wine-making and soft drinks. Foster's Group is the brewer of the Foster's Lager. Foster's Group Limited is a publicly-listed company on the Australian Securities Exchange and is based in Melbourne, Victoria. Its wine division Beringer Blass is the 7th largest producer of wine in the United States.[1] CEO Trevor O'Hoy, resigned on the 10th June 2008 after poor performance by the wine division of the group.[2] O'Hoy was replaced by Ian Johnston on 21 July 2008 in the position of acting CEO.[3]
HistoryIt was founded in Melbourne in 1886 by two American brothers, William and Ralph Foster of New York, who happened to own a refrigeration plant, which was necessary to brew beer in Australia's hot climate. They sold the brewery the following year and returned to the United States.[citation needed] In 1983 Elders IXL, a giant Australian diversified conglomerate, purchased Carlton and United Breweries, and renamed it Elders Brewing Group. Then in 1990, the Elders Brewing Group changed its name to the Foster's Group, to reflect the name of their most internationally recognised product. In 2005, Foster's Group acquired the Australian wine-making group Southcorp. This acquisition added famous brands such as Penfolds, Lindemans and Rosemount to the Foster's stable and around $1 billion AUD to revenues. There has long been speculation that the beer sector or all of Foster's Group will be subject to a takeover by a larger firm. Groups to express such an interest over the years have included Diageo, SABMiller, Molson Coors and Heineken. BusinessIn 1990, Asahi Breweries acquired a 19.9% stake in Australian brewery giant Elders IXL which later became Foster' s Group. Foster's Group imports, licenses, and distributes a large number of brands. In Australia, Foster's distributes the Asahi Super Dry, Carlsberg, Cinzano, Corona, Kronenbourg 1664, Perrier, Skyy vodka, Stella Artois, and 42 Below import brands among many others. While in the United States and Canadian markets, Molson brews and sells Foster's Lager under license. In August 2008, it was convicted and fined more than $1-million for two breaches of Victoria's (Australia's) Occupational Health and Safety Act which led to the death of a worker in 2006.[4] The prosecution of the company by the Director of Public Prosecutions for WorkSafe Victoria resulted in a call for the company to better report on health and safety in its Annual Report.[5] Foster's announced yearly results which ended on June 30, 2009. The net sales revenue increases by 2.7% to $4.5 billion. Net profit increases by 4.0% to $741.5m and earnings per share increases by 4.6% to 38.5 cents.[6] Operating companies
Beer brands currently soldunder license in Australia,though not all owned byFoster's, 2008
Wine brands(currently sold by Foster's, 2008)
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