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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.<ref>[http://spirits.drinks-business-review.com/news/fosters_full_year_profit_increases_090824 Foster's 2009 net sales] Earnings per share increases by 4.6%</ref>
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.<ref>[http://spirits.drinks-business-review.com/news/fosters_full_year_profit_increases_090824 Foster's 2009 net sales] Earnings per share increases by 4.6%</ref>

By 2011, the company had written down the value of the wines division by half since it acquired it at the peak of the market, leaving it worth about ASD$3.1 billion.<ref>{{cite web|url=http://www.abc.net.au/news/stories/2011/04/29/3203574.htm?section=business|title=Foster's shareholders decide wine and beer don't mix|publisher=ABC News|date=29 April 2011|accessdate=29 April 2011}}</ref> After further difficulties in the division resulting in an additional ASD$1.3 billion write-down in early 2011, at a meeting in Melbourne on 29 April 2011, 99% of Fosters Group shareholders agreed to split Fosters Group business in to two separate brewing and wines companies. The creation of the separately listed [[Treasury Wine Estates]] will be completed by 9 May 2011.<ref>{{cite web|url=http://www.bbc.co.uk/news/13235143|title=Investors agree to split Foster's into beer, wine units|publisher=BBC News|date=29 April 2011|accessdate=29 April 2011}}</ref>


==Operating companies==
==Operating companies==

Revision as of 09:53, 29 April 2011

Foster's Group Limited
Company typePublic (ASX: FGL)
IndustryBeverages
Founded1887
HeadquartersMelbourne, Australia
Key people
David Crawford, Chairman
Ian Johnston, acting CEO
ProductsVictoria Bitter
Fosters Lager
Jamieson's Run Wines
Wolf Blass Wines
Strongbow Cider
RevenueA$3.9 billion (2004)
Number of employees
35,000 (2004)
Websitewww.fosters.com.au

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 seventh 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]

History

It 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 A$1 billion 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.

Business

In 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]

By 2011, the company had written down the value of the wines division by half since it acquired it at the peak of the market, leaving it worth about ASD$3.1 billion.[7] After further difficulties in the division resulting in an additional ASD$1.3 billion write-down in early 2011, at a meeting in Melbourne on 29 April 2011, 99% of Fosters Group shareholders agreed to split Fosters Group business in to two separate brewing and wines companies. The creation of the separately listed Treasury Wine Estates will be completed by 9 May 2011.[8]

Operating companies

Beer brands currently sold under license in Australia, though not all owned by Foster's, 2008

  • Alpha Pale Ale
  • Asahi
  • Ballarat Bitter (last produced in limited quantity in 2006)
  • Beez Neez
  • Belle-Vue Kriek
  • Bohemian Pilsner
  • Carlsberg
  • Carlsberg Elephant
  • Carlton Black Ale
  • Carlton Cold
  • Carlton Cold Ultra Chill (discontinued in Nov 2008)
  • Carlton Draught
  • Carlton Dry
  • Carlton Dry Fusion
  • Carlton Light
  • Carlton Midstrength
  • Carlton Sterling
  • Cascade Amber Ale
  • Cascade Bitter
  • Cascade Blonde Lager
  • Cascade Draught (see Cascade Brewery)
  • Cascade Export Stout
  • Cascade Green
  • Cascade Lager
  • Cascade Pale Ale
  • Cascade Premium Lager
  • Cascade Premium Light
  • Cascade Stout
  • Corona
  • Crown Aluminium
  • Crown Gold
  • Crown Lager
  • Foster's Lager
  • Foster's Lightice
  • Hoegaarden Fruit
  • Hoegaarden White
  • Invalid Stout
  • Kent Old Brown
  • Kronenbourg
  • Leffe Blonde
  • Leffe Radius
  • Melbourne Bitter
  • Newcastle Brown Ale
  • NT Draught
  • Pepperjack Ale
  • Powers Bitter
  • Pure Blonde
  • Pure Blonde Naked
  • Redback Cristal
  • Redback Mild
  • Redback Original
  • Reschs Real Bitter
  • Reschs Pilsner
  • Richmond Lager
  • Rooftop Red Lager
  • Shanghai
  • Sheaf Stout
  • Staropramen
  • Stella Artois
  • Victoria Bitter
  • Victoria Bitter Midstrength (Gold)
  • Victoria Bitter Raw (BRAND NEW)

Wine brands (currently sold by Foster's, 2008)

  • Andrew Garrett
  • Annie's Lane
  • Bailey's of Glenrowan
  • Beringer Vineyards[9]
  • Boronia Marsala
  • Cartwheel
  • Castello di Gabbianno
  • Chateau St-Jean
  • Coldstream Hills
  • Devil's Lair
  • Etude
  • Fisher's Circle
  • Galway Pipe
  • Greg Norman Estates
  • Half Mile Creek
  • Heemskerk
  • Ingoldby
  • Jamiesons Run
  • Kaiser Stuhl
  • Killawarra
  • Leo Buring
  • Lindemans
  • Little Penguin
  • Maglieri
  • Matthew Lang
  • Matua Valley Wines
  • Meridian
  • Metala
  • Minchinbury
  • Mildara
  • Mr Pickwick's
  • Penfolds
  • Pepperjack
  • Pommery
  • Queen Adelaide
  • Riccadonna
  • Robertson's Well
  • Rosemount
  • Rothbury Estate
  • Rouge Homme
  • Saltram
  • Seaview
  • Secret Stone
  • Seppelt
  • Shadowood
  • Stags' Leap Winery
  • Stock Gala Spumante
  • St-Clement
  • St Hubert's
  • T'Gallant
  • Tollana
  • Wolf Blass
  • Wynns
  • Yarra Ridge
  • Yellowglen

See also

References

  1. ^ T. Stevenson The Sotheby's Wine Encyclopedia Fourth Edition p. 468 Dorling Kindersly 2005 ISBN 0-7566-1324-8.
  2. ^ Takeovers rarely work for shareholders Michael West (10 June 2008) smh.com.au.
  3. ^ ASX - Ian Johnston appointed acting CEO on departure of Trevor O'Hoy Melbourne, 21 July 2008 - Media Centre - Foster's Group Limited.
  4. ^ Foster's fined $1.125m over worker's death Sarah-Jane Collins - 5 August 2008 - The Age.
  5. ^ http://www.worksafe.vic.gov.au/wps/wcm/connect/WorkSafe/SiteTools/News/Fosters+gets+record+fine+for+fatal+safety+breachesI
  6. ^ Foster's 2009 net sales Earnings per share increases by 4.6%
  7. ^ "Foster's shareholders decide wine and beer don't mix". ABC News. 29 April 2011. Retrieved 29 April 2011.
  8. ^ "Investors agree to split Foster's into beer, wine units". BBC News. 29 April 2011. Retrieved 29 April 2011.
  9. ^ Beringer Vineyards website. The oldest continuously operating winery in the Napa Valley, founded 1876. The winery is on the National Register of Historic Places as a Historic District.

St Clement Chateau St Jean Stags Leap

External links

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